Connor Clark & Lunn Investment Management Ltd. Takes $1.68 Million Position in Concrete Pumping Holdings, Inc. $BBCP

Key Points

• Connor Clark & Lunn initiated a $1.68 million position in Concrete Pumping Holdings, purchasing 139,435 shares, while institutional investors collectively own 34.2% of the company.
• Company insiders sold 346,955 shares worth approximately $3.73 million over the past three months, including significant sales by a director and the CFO.
• BBCP opened at $9.21, down 2.3%, after the company missed quarterly EPS expectations despite exceeding revenue estimates. Analysts maintain a “Moderate Buy” consensus with a $10.25 target price.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 139,435 shares of the company's stock, valued at approximately $1,680,000. Connor Clark & Lunn Investment Management Ltd. owned 0.28% of Concrete Pumping as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Bard Associates Inc. purchased a new stake in shares of Concrete Pumping during the 2nd quarter worth $30,000. BNP Paribas Financial Markets increased its holdings in Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company's stock valued at $31,000 after buying an additional 2,187 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Concrete Pumping in the first quarter valued at $54,000. Strs Ohio acquired a new stake in Concrete Pumping in the first quarter valued at $62,000. Finally, Verition Fund Management LLC acquired a new stake in Concrete Pumping in the fourth quarter valued at $69,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Concrete Pumping

In other news, Director Brent M. Stevens sold 97,700 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the transaction, the director directly owned 497,155 shares in the company, valued at approximately $5,384,188.65. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Iain Humphries sold 96,955 shares of Concrete Pumping stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the completion of the transaction, the chief financial officer directly owned 377,812 shares in the company, valued at $4,076,591.48. The trade was a 20.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 346,955 shares of company stock valued at $3,726,529 over the last three months. Corporate insiders own 28.20% of the company's stock.

Concrete Pumping Stock Down 2.3%

BBCP opened at $9.21 on Friday. The business's 50-day simple moving average is $10.30 and its 200-day simple moving average is $8.59. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. Concrete Pumping Holdings, Inc. has a one year low of $5.55 and a one year high of $12.19. The stock has a market capitalization of $464.09 million, a P/E ratio of 65.79 and a beta of 0.86.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last announced its earnings results on Thursday, June 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). The firm had revenue of $106.80 million during the quarter, compared to analyst estimates of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. Analysts anticipate that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BBCP. Wall Street Zen cut Concrete Pumping from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings raised Concrete Pumping from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, June 5th. Texas Capital upgraded Concrete Pumping to a "strong-buy" rating in a research note on Tuesday, July 21st. Zacks Research downgraded Concrete Pumping from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Robert W. Baird boosted their price objective on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc NASDAQ: BBCP is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.

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