Jennison Associates LLC Sells 315,041 Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Jennison Associates LLC decreased its holdings in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,407,713 shares of the company's stock after selling 315,041 shares during the quarter. Jennison Associates LLC owned approximately 2.65% of Concrete Pumping worth $7,686,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BBCP. Allspring Global Investments Holdings LLC acquired a new stake in shares of Concrete Pumping in the first quarter valued at $234,000. Ritholtz Wealth Management bought a new stake in Concrete Pumping during the 1st quarter worth about $496,000. Two Sigma Advisers LP increased its position in Concrete Pumping by 21.9% in the 4th quarter. Two Sigma Advisers LP now owns 130,900 shares of the company's stock valued at $872,000 after acquiring an additional 23,500 shares in the last quarter. Seven Six Capital Management LLC acquired a new stake in Concrete Pumping in the 4th quarter valued at about $3,500,000. Finally, Raiffeisen Bank International AG bought a new position in shares of Concrete Pumping in the fourth quarter worth about $995,000. Institutional investors own 34.20% of the company's stock.

Wall Street Analyst Weigh In

BBCP has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of Concrete Pumping from $6.50 to $6.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. DA Davidson set a $8.00 price objective on Concrete Pumping and gave the company a "buy" rating in a research report on Monday, June 9th.

Concrete Pumping Trading Down 0.3%

Concrete Pumping stock traded down $0.02 during trading hours on Thursday, reaching $6.91. 50,232 shares of the company's stock traded hands, compared to its average volume of 88,019. The firm has a market capitalization of $359.53 million, a price-to-earnings ratio of 31.41 and a beta of 1.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.68 and a current ratio of 1.79. Concrete Pumping Holdings, Inc. has a fifty-two week low of $4.78 and a fifty-two week high of $9.68. The firm's 50 day moving average is $6.64 and its 200-day moving average is $6.65.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Concrete Pumping had a net margin of 3.57% and a return on equity of 5.33%. The business had revenue of $93.96 million during the quarter, compared to analyst estimates of $99.02 million. On average, analysts predict that Concrete Pumping Holdings, Inc. will post 0.43 earnings per share for the current year.

Concrete Pumping announced that its Board of Directors has approved a share repurchase program on Thursday, June 5th that authorizes the company to buyback $15.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.