Ritholtz Wealth Management Has $843,000 Holdings in Concrete Pumping Holdings, Inc. $BBCP

Ritholtz Wealth Management cut its stake in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 28.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,104 shares of the company’s stock after selling 47,337 shares during the period. Ritholtz Wealth Management owned approximately 0.23% of Concrete Pumping worth $843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BBCP. BNP Paribas Financial Markets increased its holdings 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 period. Acadian Asset Management LLC acquired a new stake in Concrete Pumping during the first quarter worth about $54,000. Strs Ohio bought a new position in Concrete Pumping during the first quarter valued at about $62,000. Verition Fund Management LLC bought a new position in Concrete Pumping during the fourth quarter valued at about $69,000. Finally, OakTrust Wealth Advisors LLC acquired a new position in Concrete Pumping in the 4th quarter valued at approximately $71,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Concrete Pumping Trading Up 2.3%

Shares of BBCP stock opened at $11.86 on Tuesday. The company has a market capitalization of $597.66 million, a P/E ratio of 84.71 and a beta of 0.94. Concrete Pumping Holdings, Inc. has a 12-month low of $5.55 and a 12-month high of $11.98. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average price of $8.82 and a 200 day moving average price of $7.51.

Concrete Pumping (NASDAQ:BBCP) last issued 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). The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. Research analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

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 stock was sold at an average price of $10.65, for a total value of $1,065,000.00. Following the completion of the transaction, the director owned 597,155 shares in the company, valued at approximately $6,359,700.75. The trade was a 14.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Iain Humphries sold 96,955 shares of the business’s 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 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. Over the last 90 days, insiders have sold 246,955 shares of company stock worth $2,643,644. 28.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BBCP. Robert W. Baird lifted their price objective on Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, June 9th. Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.