Jennison Associates LLC Reduces Stake in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Jennison Associates LLC lowered its stake in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,667,910 shares of the company’s stock after selling 154,915 shares during the period. Jennison Associates LLC’s holdings in Concrete Pumping were worth $13,677,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. EAM Investors LLC purchased a new stake in Concrete Pumping during the 3rd quarter worth about $1,502,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Concrete Pumping by 28.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 111,412 shares of the company’s stock valued at $956,000 after buying an additional 24,853 shares during the period. Jump Financial LLC purchased a new stake in shares of Concrete Pumping in the third quarter worth about $117,000. Heirloom Wealth Management boosted its position in shares of Concrete Pumping by 20.1% in the fourth quarter. Heirloom Wealth Management now owns 59,254 shares of the company’s stock valued at $486,000 after acquiring an additional 9,920 shares during the period. Finally, New York State Common Retirement Fund grew its position in Concrete Pumping by 2.2% in the third quarter. New York State Common Retirement Fund now owns 455,444 shares of the company’s stock worth $3,908,000 after acquiring an additional 9,820 shares in the last quarter. Institutional investors own 34.20% of the company’s stock.

Concrete Pumping Price Performance

Shares of Concrete Pumping stock opened at $6.60 on Friday. The firm has a market capitalization of $355.54 million, a PE ratio of 18.86 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.21. Concrete Pumping Holdings, Inc. has a 12 month low of $6.12 and a 12 month high of $9.15. The business’s 50-day moving average price is $7.73 and its 200-day moving average price is $7.79.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The business had revenue of $97.71 million for the quarter, compared to the consensus estimate of $98.25 million. Concrete Pumping had a net margin of 4.81% and a return on equity of 7.76%. Sell-side analysts forecast that Concrete Pumping Holdings, Inc. will post 0.45 EPS for the current fiscal year.

Insider Activity at Concrete Pumping

In other Concrete Pumping news, CEO Bruce F. Young sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $7.09, for a total value of $35,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,049,275 shares of the company’s stock, valued at $14,529,359.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.40% of the stock is owned by insiders.

Concrete Pumping Company 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.