State of New Jersey Common Pension Fund D grew its stake in shares of Babcock (NYSE:BW) by 25.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,000 shares of the technology company’s stock after purchasing an additional 50,000 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.51% of Babcock worth $833,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Babcock by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,232,623 shares of the technology company’s stock worth $49,776,000 after buying an additional 312,969 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Babcock by 10.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,244,099 shares of the technology company’s stock worth $26,391,000 after buying an additional 209,171 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Babcock by 21.9% in the 2nd quarter. New York State Common Retirement Fund now owns 1,531,840 shares of the technology company’s stock worth $18,014,000 after buying an additional 275,399 shares in the last quarter. Teachers Advisors LLC grew its holdings in Babcock by 0.7% in the 2nd quarter. Teachers Advisors LLC now owns 1,351,709 shares of the technology company’s stock worth $15,896,000 after buying an additional 9,872 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Babcock by 39.8% in the 1st quarter. Nuveen Asset Management LLC now owns 1,267,978 shares of the technology company’s stock worth $11,843,000 after buying an additional 361,178 shares in the last quarter. 94.26% of the stock is owned by institutional investors.
In other news, major shareholder Vintage Capital Management Llc bought 1,686,945 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average cost of $3.10 per share, for a total transaction of $5,229,529.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.
A number of brokerages recently issued reports on BW. KeyCorp reissued a “hold” rating on shares of Babcock in a report on Friday, September 22nd. Zacks Investment Research lowered Babcock from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. UBS Group AG (USA) lowered Babcock from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $13.00 to $3.00 in a report on Monday, August 14th. Credit Suisse Group decreased their price objective on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a report on Friday, August 11th. Finally, BidaskClub lowered Babcock from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Babcock currently has a consensus rating of “Hold” and an average price target of $7.18.
Shares of Babcock (NYSE:BW) opened at $4.06 on Friday. Babcock has a 52-week low of $1.61 and a 52-week high of $17.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 0.99.
Babcock (NYSE:BW) last released its earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($2.68). The firm had revenue of $349.80 million during the quarter, compared to analyst estimates of $434.34 million. Babcock had a negative return on equity of 35.95% and a negative net margin of 14.41%. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) earnings per share. equities analysts anticipate that Babcock will post -2.63 EPS for the current fiscal year.
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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