Wellington Management Group LLP Buys New Shares in Babcock $BW

Wellington Management Group LLP acquired a new stake in shares of Babcock (NYSE:BW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,295,031 shares of the technology company’s stock, valued at approximately $18,260,000.

Several other hedge funds also recently made changes to their positions in BW. Marshall Wace LLP increased its position in shares of Babcock by 93.0% in the second quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock valued at $380,000 after acquiring an additional 190,814 shares during the period. Nomura Holdings Inc. grew its holdings in shares of Babcock by 58.2% during the 2nd quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock worth $123,000 after acquiring an additional 46,884 shares during the period. Vanguard Group Inc. raised its holdings in Babcock by 54.3% in the third quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after purchasing an additional 1,556,692 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Babcock in the 3rd quarter worth about $74,000. Finally, Legal & General Group Plc bought a new position in shares of Babcock during the third quarter valued at approximately $14,086,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Needham & Company LLC began coverage on shares of Babcock in a research note on Monday, August 31st. They set a “buy” rating and a $20.00 target price for the company. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Northland Securities set a $23.00 target price on Babcock in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Babcock presently has an average rating of “Hold” and an average price target of $15.40.

Insider Buying and Selling

In other Babcock news, Director Philip Moeller acquired 5,000 shares of the stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the completion of the transaction, the director directly owned 240,809 shares of the company’s stock, valued at $2,287,685.50. This trade represents a 2.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Babcock Trading Up 0.3%

Babcock stock opened at $7.12 on Monday. The stock has a market cap of $1.06 billion, a P/E ratio of -39.55 and a beta of 1.19. Babcock has a 1 year low of $1.97 and a 1 year high of $22.03. The company has a debt-to-equity ratio of 4.21, a current ratio of 1.45 and a quick ratio of 1.33. The firm’s 50 day moving average price is $9.69 and its 200-day moving average price is $13.44.

Babcock (NYSE:BW) last released its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $319.69 million during the quarter, compared to the consensus estimate of $196.95 million. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. On average, equities analysts predict that Babcock will post 0.27 earnings per share for the current fiscal year.

Babcock Profile

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.