Seven Six Capital Management LLC Grows Position in Concrete Pumping Holdings, Inc. $BBCP

Seven Six Capital Management LLC lifted its holdings in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 483,469 shares of the company’s stock after buying an additional 46,914 shares during the period. Concrete Pumping makes up 3.3% of Seven Six Capital Management LLC’s portfolio, making the stock its 14th biggest position. Seven Six Capital Management LLC owned about 0.95% of Concrete Pumping worth $3,244,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Verition Fund Management LLC purchased a new stake in shares of Concrete Pumping during the fourth quarter valued at $69,000. Barclays PLC boosted its position in shares of Concrete Pumping by 9.7% during the fourth quarter. Barclays PLC now owns 55,108 shares of the company’s stock valued at $370,000 after buying an additional 4,873 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Concrete Pumping during the fourth quarter valued at $175,000. State Street Corp boosted its position in shares of Concrete Pumping by 1.3% during the fourth quarter. State Street Corp now owns 483,918 shares of the company’s stock valued at $3,247,000 after buying an additional 5,993 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Concrete Pumping by 46.1% during the fourth quarter. Wells Fargo & Company MN now owns 24,597 shares of the company’s stock valued at $165,000 after buying an additional 7,760 shares during the last quarter. 34.20% of the stock is owned by hedge funds and other institutional investors.

Concrete Pumping Stock Down 1.5%

BBCP stock opened at $10.69 on Wednesday. Concrete Pumping Holdings, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $11.98. The business’s 50-day moving average is $8.14 and its two-hundred day moving average is $7.21. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. The company has a market cap of $538.67 million, a price-to-earnings ratio of 76.36 and a beta of 0.94.

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

Insider Transactions at Concrete Pumping

In other Concrete Pumping news, Director Brent M. Stevens sold 100,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $10.65, for a total value of $1,065,000.00. Following the transaction, the director owned 597,155 shares of the company’s stock, valued at approximately $6,359,700.75. This represents a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Iain Humphries sold 96,955 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.79, for a total value 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 approximately $4,076,591.48. This represents a 20.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 246,955 shares of company stock worth $2,643,644. 28.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BBCP has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, June 9th. Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Wall Street Zen raised Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Concrete Pumping has a consensus rating of “Hold” and an average price target 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.