State Street Corp increased its stake in shares of Babcock (NYSE:BW) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 941,018 shares of the technology company’s stock after purchasing an additional 58,650 shares during the quarter. State Street Corp owned approximately 1.93% of Babcock worth $11,065,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its holdings in Babcock by 61.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 456,960 shares of the technology company’s stock worth $5,374,000 after acquiring an additional 174,709 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Babcock by 77.4% during the 2nd quarter. Victory Capital Management Inc. now owns 118,500 shares of the technology company’s stock worth $1,394,000 after acquiring an additional 51,700 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Babcock by 122.6% during the 2nd quarter. Nationwide Fund Advisors now owns 81,861 shares of the technology company’s stock worth $963,000 after acquiring an additional 45,094 shares during the last quarter. Vanguard Group Inc. grew its holdings in Babcock by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,232,623 shares of the technology company’s stock worth $49,776,000 after acquiring an additional 312,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Babcock by 29.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,034,928 shares of the technology company’s stock worth $19,006,000 after acquiring an additional 458,237 shares during the last quarter. 90.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Babcock (NYSE BW) opened at $4.69 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.17. Babcock has a 12 month low of $1.61 and a 12 month high of $17.72.
Babcock (NYSE:BW) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.25). Babcock had a negative net margin of 22.48% and a negative return on equity of 50.88%. The firm had revenue of $408.70 million during the quarter, compared to the consensus estimate of $413.41 million. During the same period in the prior year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. research analysts forecast that Babcock will post -3.07 EPS for the current year.
In other news, major shareholder Vintage Capital Management Llc acquired 1,686,945 shares of Babcock stock in a transaction dated Thursday, September 14th. The shares were bought at an average cost of $3.10 per share, with a total value of $5,229,529.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
A number of equities research analysts have weighed in on the stock. KeyCorp reissued a “hold” rating on shares of Babcock in a report on Friday, September 22nd. Credit Suisse Group reduced their price objective on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating on the stock in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Babcock from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. UBS AG lowered shares of Babcock from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $13.00 to $3.00 in a research note on Monday, August 14th. Finally, BidaskClub lowered shares of Babcock from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Babcock currently has a consensus rating of “Hold” and a consensus target price of $7.18.
Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.
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