Alliancebernstein L.P. held its stake in shares of Babcock (NYSE:BW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,900 shares of the technology company’s stock at the close of the second quarter. Alliancebernstein L.P. owned about 0.11% of Babcock worth $657,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Babcock by 34.1% during the 2nd quarter. Sei Investments Co. now owns 11,570 shares of the technology company’s stock worth $136,000 after acquiring an additional 2,940 shares during the period. Tudor Investment Corp ET AL boosted its stake in shares of Babcock by 24.5% during the 1st quarter. Tudor Investment Corp ET AL now owns 14,930 shares of the technology company’s stock worth $139,000 after acquiring an additional 2,937 shares during the period. US Bancorp DE boosted its stake in shares of Babcock by 31.3% during the 2nd quarter. US Bancorp DE now owns 15,327 shares of the technology company’s stock worth $180,000 after acquiring an additional 3,656 shares during the period. CHICAGO TRUST Co NA bought a new position in shares of Babcock during the 2nd quarter worth approximately $193,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Babcock by 60.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 18,098 shares of the technology company’s stock worth $169,000 after acquiring an additional 6,800 shares during the period. Institutional investors own 94.26% of the company’s stock.
Babcock (NYSE:BW) last released its earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($2.68). The business had revenue of $349.80 million during the quarter, compared to the consensus estimate of $434.34 million. Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The business’s revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.20) earnings per share.
Several research analysts have recently commented on the company. KeyCorp reiterated a “hold” rating on shares of Babcock in a research note on Friday, September 22nd. Zacks Investment Research downgraded Babcock from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub downgraded Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Credit Suisse Group reduced their target price on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research note on Friday, August 11th. Finally, UBS AG downgraded Babcock from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $3.00 in a research note on Monday, August 14th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $7.18.
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In other Babcock news, major shareholder Vintage Capital Management Llc bought 1,686,945 shares of Babcock stock in a transaction dated Thursday, September 14th. The stock was bought at an average cost of $3.10 per share, with a total value of $5,229,529.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.
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.
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