Jennison Associates LLC Sells 104,625 Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Jennison Associates LLC lessened its position in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Free Report) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,555,492 shares of the company's stock after selling 104,625 shares during the period. Jennison Associates LLC owned approximately 2.91% of Concrete Pumping worth $9,006,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of BBCP. Quadrature Capital Ltd acquired a new stake in Concrete Pumping during the 1st quarter worth $180,000. Epoch Investment Partners Inc. acquired a new position in shares of Concrete Pumping in the 1st quarter valued at approximately $3,439,000. Park Avenue Securities LLC increased its stake in Concrete Pumping by 100.0% during the 2nd quarter. Park Avenue Securities LLC now owns 118,213 shares of the company's stock worth $710,000 after purchasing an additional 59,107 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Concrete Pumping by 12.9% in the second quarter. Bank of New York Mellon Corp now owns 112,341 shares of the company's stock valued at $675,000 after buying an additional 12,855 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Concrete Pumping by 4.4% in the second quarter. Rhumbline Advisers now owns 38,239 shares of the company's stock valued at $230,000 after purchasing an additional 1,623 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Concrete Pumping Stock Up 1.7 %

Shares of Concrete Pumping stock traded up $0.10 on Friday, reaching $6.00. 189,858 shares of the company were exchanged, compared to its average volume of 80,808. The company has a market capitalization of $321.20 million, a price-to-earnings ratio of 23.08 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. The company has a 50-day moving average of $5.70 and a 200 day moving average of $6.17.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last announced 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). The firm had revenue of $109.62 million during the quarter, compared to the consensus estimate of $126.10 million. Concrete Pumping had a net margin of 3.72% and a return on equity of 6.17%. During the same period last year, the business earned $0.17 EPS. On average, equities research analysts forecast that Concrete Pumping Holdings, Inc. will post 0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BBCP. 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. 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 lowered their price target for the company from $10.50 to $6.25 in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $7.31.

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.