Concrete Pumping (NASDAQ:BBCP) Posts Earnings Results, Beats Expectations By $0.01 EPS

Concrete Pumping (NASDAQ:BBCP) announced its quarterly earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01, Zacks reports. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%.

Concrete Pumping Stock Up 1.9%

Concrete Pumping stock traded up $0.17 during midday trading on Thursday, reaching $9.05. The stock had a trading volume of 342,387 shares, compared to its average volume of 198,408. 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 has a 1-year low of $5.55 and a 1-year high of $12.19. The stock has a market capitalization of $456.03 million, a P/E ratio of 64.64 and a beta of 0.86. The firm’s fifty day simple moving average is $10.17 and its 200-day simple moving average is $8.65.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird increased their target price on Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 9th. Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. Zacks Research cut shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen lowered shares of Concrete Pumping from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Weiss Ratings cut shares of Concrete Pumping from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Insider Buying and Selling at Concrete Pumping

In other Concrete Pumping news, CFO Iain Humphries sold 96,955 shares of the business’s stock in a transaction dated 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. The trade was a 20.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brent M. Stevens sold 97,700 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the transaction, the director owned 497,155 shares of the company’s stock, valued at approximately $5,384,188.65. This represents a 16.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 346,955 shares of company stock worth $3,726,529 over the last quarter. Company insiders own 28.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BBCP. Occudo Quantitative Strategies LP grew its stake in Concrete Pumping by 17.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 12,314 shares of the company’s stock valued at $83,000 after purchasing an additional 1,825 shares in the last quarter. Deutsche Bank AG increased its position in shares of Concrete Pumping by 9.2% during the 4th quarter. Deutsche Bank AG now owns 24,345 shares of the company’s stock worth $163,000 after purchasing an additional 2,049 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Concrete Pumping by 6.4% during the 2nd quarter. Jane Street Group LLC now owns 33,962 shares of the company’s stock worth $209,000 after purchasing an additional 2,056 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Concrete Pumping by 97.5% during the 3rd 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 in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Concrete Pumping by 4.2% in the 2nd quarter. First Trust Advisors LP now owns 77,067 shares of the company’s stock valued at $474,000 after buying an additional 3,076 shares during the last quarter. 34.20% of the stock is owned by institutional investors and hedge funds.

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.