Kieckhefer Group LLC Purchases 393,500 Shares of Babcock $BW

Kieckhefer Group LLC acquired a new stake in shares of Babcock (NYSE:BW) during the third quarter, HoldingsChannel.com reports. The fund acquired 393,500 shares of the technology company’s stock, valued at approximately $2,298,000. Babcock comprises about 0.9% of Kieckhefer Group LLC’s investment portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently bought and sold shares of BW. Whalen Wealth Management Inc. acquired a new position in Babcock during the 3rd quarter worth $109,000. Engineers Gate Manager LP increased its stake in shares of Babcock by 116.1% in the second quarter. Engineers Gate Manager LP now owns 53,109 shares of the technology company’s stock worth $749,000 after purchasing an additional 28,528 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Babcock in the second quarter worth about $25,000. Arizona State Retirement System acquired a new position in shares of Babcock during the 2nd quarter worth about $428,000. Finally, Readystate Asset Management LP acquired a new position in shares of Babcock during the 2nd quarter worth about $1,900,000. Institutional investors own 83.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BW shares. Needham & Company LLC began coverage on 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 upgraded Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.40.

Insiders Place Their Bets

In other news, Director Philip Moeller purchased 5,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $9.50 per share, for a total transaction of $47,500.00. Following the completion of the purchase, the director directly owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. The trade was a 2.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is currently owned by company insiders.

Babcock Stock Performance

NYSE BW traded down $0.07 during midday trading on Tuesday, hitting $4.93. The company had a trading volume of 1,702,858 shares, compared to its average volume of 4,227,334. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 4.21. The stock has a market cap of $735.12 million, a price-to-earnings ratio of -27.42 and a beta of 1.17. The firm has a fifty day simple moving average of $7.46 and a two-hundred day simple moving average of $12.49. Babcock has a fifty-two week low of $3.06 and a fifty-two week high of $22.03.

Babcock (NYSE:BW) last announced its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. The business had revenue of $319.72 million during the quarter, compared to analyst estimates of $196.95 million. Equities analysts forecast that Babcock will post 0.27 earnings per share for the current fiscal year.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is an energy and environmental technology company that provides products and services for power generation, industrial processing and emissions control. Its portfolio includes boilers, steam-generation equipment, thermal technologies, and systems designed to reduce air pollutants and improve energy efficiency.

The company also develops technologies for waste-to-energy, renewable energy, hydrogen production and carbon management. Its solutions are used by utilities, industrial operators, municipal organizations and other customers seeking to generate energy from conventional or alternative fuels while managing environmental impacts.

Babcock & Wilcox traces its roots to the Babcock & Wilcox Company, founded in the 19th century.