Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Stock Position Cut by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,356 shares of the company’s stock after selling 10,849 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.26% of Concrete Pumping worth $813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Concrete Pumping during the second quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Concrete Pumping in the 3rd quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Concrete Pumping in the second quarter valued at $42,000. Quadrature Capital Ltd bought a new position in Concrete Pumping during the first quarter valued at about $180,000. Finally, Hsbc Holdings PLC grew its holdings in Concrete Pumping by 39.1% during the second quarter. Hsbc Holdings PLC now owns 31,567 shares of the company’s stock worth $195,000 after acquiring an additional 8,866 shares during the period. 34.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BBCP has been the subject of a number of research analyst reports. Robert W. Baird cut their price target on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Thursday, September 5th. DA Davidson reduced their target price on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating for the company in a report on Thursday, September 5th. Finally, UBS Group lowered shares of Concrete Pumping from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $10.50 to $6.25 in a research report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.31.

Concrete Pumping Price Performance

BBCP stock opened at $7.01 on Friday. The firm has a 50-day moving average of $5.76 and a two-hundred day moving average of $6.16. The firm has a market capitalization of $375.27 million, a PE ratio of 26.96 and a beta of 1.13. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19. Concrete Pumping Holdings, Inc. has a one year low of $5.05 and a one year high of $8.48.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Concrete Pumping had a return on equity of 6.17% and a net margin of 3.72%. The firm had revenue of $109.62 million during the quarter, compared to analyst estimates of $126.10 million. During the same period in the prior year, the business posted $0.17 EPS. On average, analysts forecast that Concrete Pumping Holdings, Inc. will post 0.27 earnings per share for the current year.

Concrete Pumping Profile

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.