Robert W. Baird Cuts Concrete Pumping (NASDAQ:BBCP) Price Target to $6.50

Concrete Pumping (NASDAQ:BBCP) had its price objective lowered by Robert W. Baird from $7.00 to $6.50 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Concrete Pumping Trading Up 3.3 %

NASDAQ BBCP opened at $5.64 on Wednesday. The firm has a market capitalization of $298.94 million, a P/E ratio of 21.69 and a beta of 1.25. The business has a fifty day simple moving average of $7.31 and a 200 day simple moving average of $6.52. Concrete Pumping has a 12 month low of $4.78 and a 12 month high of $9.68. The company has a current ratio of 1.99, a quick ratio of 1.89 and a debt-to-equity ratio of 1.16.

Concrete Pumping (NASDAQ:BBCP) last announced its earnings results on Wednesday, January 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. On average, analysts predict that Concrete Pumping will post 0.43 EPS for the current fiscal year.

Concrete Pumping Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 24th were issued a $1.00 dividend. The ex-dividend date was Friday, January 24th.

Insider Buying and Selling

In other news, CEO Bruce F. Young acquired 49,507 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $5.19 per share, with a total value of $256,941.33. Following the acquisition, the chief executive officer now owns 1,722,622 shares in the company, valued at $8,940,408.18. The trade was a 2.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 26.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Concrete Pumping

Several large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in Concrete Pumping by 6.5% in the 4th quarter. Marshall Wace LLP now owns 24,993 shares of the company’s stock worth $166,000 after acquiring an additional 1,529 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Concrete Pumping by 0.9% in the 4th quarter. Renaissance Technologies LLC now owns 243,100 shares of the company’s stock worth $1,619,000 after purchasing an additional 2,100 shares during the period. Trexquant Investment LP boosted its stake in Concrete Pumping by 9.5% in the 4th quarter. Trexquant Investment LP now owns 25,906 shares of the company’s stock worth $173,000 after purchasing an additional 2,238 shares during the period. Wells Fargo & Company MN boosted its stake in Concrete Pumping by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 13,968 shares of the company’s stock worth $93,000 after purchasing an additional 3,042 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Concrete Pumping by 3.7% in the 4th quarter. Federated Hermes Inc. now owns 103,072 shares of the company’s stock worth $686,000 after purchasing an additional 3,654 shares during the period. Hedge funds and other institutional investors own 34.20% of the company’s stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.