Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 139,435 Concrete Pumping Holdings, Inc. $BBCP

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in the second quarter, Holdings Channel reports. The fund acquired 139,435 shares of the company’s stock, valued at approximately $1,680,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BBCP. Bard Associates Inc. acquired a new position in shares of Concrete Pumping in the second quarter valued at approximately $30,000. BNP Paribas Financial Markets lifted its holdings in shares of Concrete Pumping by 97.5% during the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after purchasing an additional 2,187 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Concrete Pumping during the first quarter worth $54,000. Strs Ohio purchased a new position in Concrete Pumping in the 1st quarter valued at $62,000. Finally, Verition Fund Management LLC purchased a new position in Concrete Pumping in the 4th quarter valued at $69,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Robert W. Baird lifted their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, June 9th. Zacks Research lowered shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Concrete Pumping from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Concrete Pumping has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Concrete Pumping Trading Down 2.3%

Shares of BBCP stock opened at $9.21 on Friday. Concrete Pumping Holdings, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $12.19. The stock has a market cap of $464.09 million, a P/E ratio of 65.79 and a beta of 0.86. The business has a fifty day simple moving average of $10.30 and a 200-day simple moving average of $8.59. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business 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%. On average, analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Concrete Pumping

In other Concrete Pumping 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 transaction, the director owned 597,155 shares of the company’s stock, valued at $6,359,700.75. This trade represents a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Iain Humphries sold 96,955 shares of the stock in a transaction on Thursday, June 11th. The stock was 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 $4,076,591.48. This trade represents a 20.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 346,955 shares of company stock valued at $3,726,529 over the last quarter. 28.20% of the stock is currently owned by insiders.

About Concrete Pumping

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.