Babcock (BW) Position Raised by Bank of America Corp DE

Bank of America Corp DE increased its position in Babcock (NYSE:BW) by 438.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 318,139 shares of the technology company’s stock after buying an additional 259,062 shares during the period. Bank of America Corp DE owned about 0.65% of Babcock worth $2,971,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Babcock by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,919,654 shares of the technology company’s stock worth $36,610,000 after buying an additional 160,524 shares during the period. Wellington Management Group LLP raised its stake in shares of Babcock by 1.0% in the first quarter. Wellington Management Group LLP now owns 2,744,506 shares of the technology company’s stock worth $25,634,000 after buying an additional 26,640 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Babcock by 29.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,034,928 shares of the technology company’s stock worth $19,006,000 after buying an additional 458,237 shares during the period. Boston Partners raised its stake in shares of Babcock by 49.5% in the first quarter. Boston Partners now owns 1,200,840 shares of the technology company’s stock worth $11,216,000 after buying an additional 397,540 shares during the period. Finally, Brandes Investment Partners LP raised its stake in shares of Babcock by 322.6% in the first quarter. Brandes Investment Partners LP now owns 973,934 shares of the technology company’s stock worth $9,096,000 after buying an additional 743,483 shares during the period. Hedge funds and other institutional investors own 92.85% of the company’s stock.

Shares of Babcock (NYSE:BW) opened at 1.95 on Friday. The firm’s 50-day moving average price is $9.05 and its 200 day moving average price is $10.77. Babcock has a 1-year low of $1.93 and a 1-year high of $17.72. The stock’s market cap is $95.16 million.

Babcock (NYSE:BW) last posted its earnings results on Wednesday, August 9th. The technology company reported ($2.63) EPS for the quarter, missing the consensus estimate of $0.05 by $2.68. Babcock had a negative return on equity of 35.95% and a negative net margin of 14.41%. The firm had revenue of $349.80 million during the quarter, compared to the consensus estimate of $434.34 million. During the same quarter last year, the company posted ($0.20) EPS. Babcock’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, equities analysts expect that Babcock will post ($1.92) earnings per share for the current fiscal year.

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A number of research analysts have recently issued reports on BW shares. Credit Suisse Group cut their price target on Babcock from $10.00 to $3.70 and set an “underperform” rating on the stock in a report on Friday, August 11th. BidaskClub downgraded Babcock from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. UBS AG downgraded Babcock from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $3.00 in a report on Monday, August 14th. Zacks Investment Research upgraded Babcock from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Finally, Sidoti dropped their target price on Babcock from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Babcock currently has an average rating of “Hold” and a consensus price target of $10.14.

About Babcock

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.

Institutional Ownership by Quarter for Babcock (NYSE:BW)

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