JB Capital Partners LP Makes New Investment in Concrete Pumping Holdings, Inc. $BBCP

JB Capital Partners LP purchased a new stake in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 341,400 shares of the company’s stock, valued at approximately $4,113,870,000. Concrete Pumping makes up about 0.6% of JB Capital Partners LP’s investment portfolio, making the stock its 22nd largest holding. JB Capital Partners LP owned 0.68% of Concrete Pumping at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BBCP. BNP Paribas Financial Markets raised its position 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 during the last quarter. Acadian Asset Management LLC purchased a new position in Concrete Pumping during the first quarter worth $54,000. Strs Ohio acquired a new position in shares of Concrete Pumping in the first quarter worth $62,000. Verition Fund Management LLC acquired a new position in shares of Concrete Pumping in the fourth quarter worth $69,000. Finally, OakTrust Wealth Advisors LLC purchased a new stake in shares of Concrete Pumping in the fourth quarter valued at $71,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on BBCP. Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Robert W. Baird upped 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 downgraded shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Concrete Pumping Stock Up 3.8%

BBCP opened at $9.32 on Friday. Concrete Pumping Holdings, Inc. has a 12 month low of $5.55 and a 12 month high of $12.19. The business has a 50-day moving average of $10.45 and a two-hundred day moving average of $8.47. 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 stock has a market capitalization of $469.63 million, a price-to-earnings ratio of 66.57 and a beta of 0.86.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.04 earnings per share 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 for the quarter, compared to analysts’ expectations of $96.71 million. On average, research analysts expect that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other Concrete Pumping news, Director Brent M. Stevens sold 100,000 shares of Concrete Pumping stock in a transaction on Thursday, June 11th. The shares were 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 in the company, valued at $6,359,700.75. This trade represents a 14.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Iain Humphries sold 96,955 shares of the business’s stock in a transaction 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 represents a 20.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 346,955 shares of company stock worth $3,726,529. 28.20% of the stock is owned by company insiders.

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.