Renaissance Technologies LLC Reduces Stock Holdings in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Renaissance Technologies LLC lowered its stake in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 27.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,500 shares of the company’s stock after selling 88,687 shares during the period. Renaissance Technologies LLC owned 0.42% of Concrete Pumping worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BBCP. Dimensional Fund Advisors LP boosted its stake in shares of Concrete Pumping by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,550,933 shares of the company’s stock valued at $9,322,000 after purchasing an additional 91,469 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in Concrete Pumping by 1.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,049,645 shares of the company’s stock valued at $6,308,000 after acquiring an additional 15,847 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Concrete Pumping by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 38,239 shares of the company’s stock worth $230,000 after acquiring an additional 1,623 shares during the period. Bank of New York Mellon Corp raised its position in shares of Concrete Pumping by 12.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 112,341 shares of the company’s stock worth $675,000 after acquiring an additional 12,855 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Concrete Pumping by 100.0% in the 2nd quarter. Park Avenue Securities LLC now owns 118,213 shares of the company’s stock valued at $710,000 after purchasing an additional 59,107 shares during the period. 34.20% of the stock is owned by hedge funds and other institutional investors.

Concrete Pumping Stock Performance

Shares of Concrete Pumping stock opened at $5.69 on Friday. The stock has a market cap of $307.94 million, a price-to-earnings ratio of 18.35 and a beta of 1.11. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.54 and a quick ratio of 1.44. Concrete Pumping Holdings, Inc. has a 1 year low of $5.05 and a 1 year high of $9.05. The firm’s 50-day moving average is $5.99 and its 200 day moving average is $6.56.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings results 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 net margin of 3.72% and a return on equity of 6.17%. The firm had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $126.10 million. During the same quarter in the previous year, the company earned $0.17 EPS. Sell-side analysts anticipate that Concrete Pumping Holdings, Inc. will post 0.27 EPS for the current fiscal year.

Analysts Set New Price Targets

BBCP has been the subject of a number of research reports. Robert W. Baird decreased their price objective on Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Thursday, September 5th. UBS Group cut shares of Concrete Pumping from a “buy” rating to a “neutral” rating and lowered their price target for the company from $10.50 to $6.25 in a research report on Friday, September 6th. DA Davidson cut their price objective on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Thursday, September 5th. William Blair downgraded shares of Concrete Pumping from an “outperform” rating to a “market perform” rating in a research note on Friday, June 7th. Finally, Stifel Nicolaus dropped their price target on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.55.

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.