Insider Buying: Babcock (NYSE:BW) CFO Acquires $20,113.65 in Stock

Babcock (NYSE:BW) CFO Cameron Frymyer purchased 2,853 shares of Babcock stock in a transaction on Wednesday, November 12th. The stock was bought at an average price of $7.05 per share, for a total transaction of $20,113.65. Following the transaction, the chief financial officer directly owned 156,658 shares in the company, valued at approximately $1,104,438.90. The trade was a 1.85% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Babcock Price Performance

Shares of BW opened at $6.68 on Friday. The business has a 50-day moving average of $3.67 and a 200-day moving average of $2.01. The company has a market capitalization of $741.59 million, a price-to-earnings ratio of -3.93 and a beta of 1.91. Babcock has a 1 year low of $0.22 and a 1 year high of $7.77.

Babcock (NYSE:BW) last released its earnings results on Tuesday, November 4th. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Hedge Funds Weigh In On Babcock

Several large investors have recently added to or reduced their stakes in BW. Legal & General Group Plc bought a new stake in Babcock during the 3rd quarter worth approximately $14,086,000. Vanguard Group Inc. lifted its stake in Babcock by 54.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock valued at $12,827,000 after acquiring an additional 1,556,692 shares in the last quarter. Gendell Jeffrey L boosted its holdings in Babcock by 49.2% during the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock worth $2,477,000 after acquiring an additional 849,602 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Babcock by 497.7% in the 3rd quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock worth $6,863,000 after acquiring an additional 1,970,656 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Babcock by 13.6% in the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock valued at $1,333,000 after purchasing an additional 237,797 shares during the last quarter. Institutional investors own 83.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BW shares. Lake Street Capital reissued a “buy” rating and set a $9.00 target price on shares of Babcock in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. DA Davidson raised their target price on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday. Craig Hallum raised Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, November 5th. Finally, Wall Street Zen raised shares of Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.33.

About Babcock

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.