Kestra Advisory Services LLC Decreases Stock Position in Babcock $BW

Kestra Advisory Services LLC lessened its stake in Babcock (NYSE:BW) by 48.7% in the first quarter, HoldingsChannel reports. The fund owned 73,750 shares of the technology company’s stock after selling 70,100 shares during the period. Kestra Advisory Services LLC’s holdings in Babcock were worth $1,083,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Huntington National Bank increased its stake in Babcock by 400,000.0% in the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,000 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of Babcock during the fourth quarter valued at approximately $25,000. Centiva Capital LP bought a new position in shares of Babcock in the third quarter worth approximately $31,000. Raymond James Financial Inc. grew its holdings in shares of Babcock by 11,311.3% in the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after purchasing an additional 11,990 shares during the last quarter. Finally, Sender Co & Partners Inc. purchased a new position in shares of Babcock in the third quarter worth $50,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

Babcock Stock Performance

BW opened at $11.03 on Friday. Babcock has a 52-week low of $0.87 and a 52-week high of $22.03. The stock has a market capitalization of $1.64 billion, a PE ratio of -12.53 and a beta of 1.16. The stock’s 50 day moving average price is $15.21 and its 200-day moving average price is $13.50.

Babcock (NYSE:BW) last announced its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The company had revenue of $214.41 million during the quarter, compared to the consensus estimate of $149.72 million. Research analysts forecast that Babcock will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BW shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Friday, July 17th. Northland Securities set a $23.00 price objective on shares of Babcock in a research report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.25.

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.