Empowered Funds LLC Acquires Shares of 310,242 Concrete Pumping Holdings, Inc. $BBCP

Key Points

• Empowered Funds LLC acquired 310,242 shares of Concrete Pumping Holdings, valued at approximately $3.74 million and representing a 0.62% stake. Several other institutions also initiated positions, bringing institutional ownership to 34.2%.
• Concrete Pumping reported quarterly revenue of $106.8 million, exceeding expectations, but earnings per share of $0.04 fell short of the $0.06 consensus estimate. Analysts expect full-year EPS of $0.17.
• Insiders sold 346,955 shares worth approximately $3.73 million over the past 90 days, while analyst sentiment remains mixed; the stock carries a consensus “Moderate Buy” rating with a $10.25 price target.

Empowered Funds LLC bought a new position in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 310,242 shares of the company's stock, valued at approximately $3,738,000. Empowered Funds LLC owned 0.62% of Concrete Pumping as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BBCP. Bank of America Corp DE purchased a new position in shares of Concrete Pumping in the 2nd quarter valued at approximately $1,441,000. Hsbc Holdings PLC purchased a new stake in Concrete Pumping in the second quarter worth $597,000. Canada Pension Plan Investment Board purchased a new stake in Concrete Pumping in the second quarter worth $243,000. Legal & General Group Plc purchased a new stake in Concrete Pumping in the second quarter worth $26,000. Finally, L2 Asset Management LLC bought a new position in Concrete Pumping in the second quarter worth $124,000. Institutional investors own 34.20% of the company's stock.

Concrete Pumping Price Performance

Shares of NASDAQ:BBCP opened at $9.01 on Wednesday. Concrete Pumping Holdings, Inc. has a 1-year low of $5.55 and a 1-year high of $12.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61. The business has a fifty day moving average price of $10.21 and a 200-day moving average price of $8.64. The company has a market capitalization of $454.01 million, a PE ratio of 64.36 and a beta of 0.86.

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

Insider Activity

In other news, Director Brent M. Stevens sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the sale, the director owned 597,155 shares in the company, valued at $6,359,700.75. This represents a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Iain Humphries sold 96,955 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 377,812 shares of the company's stock, valued at $4,076,591.48. This trade represents a 20.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 346,955 shares of company stock valued at $3,726,529 over the last ninety days. Corporate insiders own 28.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BBCP shares. Weiss Ratings cut shares of Concrete Pumping from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday. Robert W. Baird increased their price target on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 9th. Wall Street Zen lowered shares of Concrete Pumping from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research cut shares of Concrete Pumping from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Texas Capital raised shares of Concrete Pumping to a "strong-buy" rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.

Concrete Pumping 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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