TIAA CREF Investment Management LLC reduced its position in shares of Babcock (NYSE:BW) by 6.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,125 shares of the technology company’s stock after selling 9,647 shares during the period. TIAA CREF Investment Management LLC’s holdings in Babcock were worth $1,262,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BW. Virginia Retirement Systems ET AL boosted its stake in Babcock by 0.6% in the first quarter. Virginia Retirement Systems ET AL now owns 83,200 shares of the technology company’s stock worth $777,000 after buying an additional 500 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Babcock by 2.3% in the first quarter. Victory Capital Management Inc. now owns 66,800 shares of the technology company’s stock worth $624,000 after buying an additional 1,525 shares during the last quarter. American International Group Inc. boosted its stake in Babcock by 7.1% in the first quarter. American International Group Inc. now owns 28,154 shares of the technology company’s stock worth $263,000 after buying an additional 1,859 shares during the last quarter. US Bancorp DE boosted its stake in Babcock by 77.2% in the first quarter. US Bancorp DE now owns 11,671 shares of the technology company’s stock worth $109,000 after buying an additional 5,083 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Babcock by 60.2% in the first quarter. UBS Asset Management Americas Inc. now owns 18,098 shares of the technology company’s stock worth $169,000 after buying an additional 6,800 shares during the last quarter. 92.85% of the stock is owned by institutional investors.

Babcock (NYSE:BW) traded down 1.72% during trading on Tuesday, reaching $2.85. The company’s stock had a trading volume of 329,277 shares. The company’s 50-day moving average is $10.10 and its 200-day moving average is $11.10. The stock’s market cap is $139.17 million. Babcock has a 12 month low of $2.61 and a 12 month high of $17.72.

Babcock (NYSE:BW) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $2.68. The firm had revenue of $349.80 million for 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 company’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.20) EPS. Equities analysts expect that Babcock will post ($1.18) EPS for the current fiscal year.

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BW has been the subject of a number of research reports. BidaskClub cut Babcock from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Sidoti lowered their target price on Babcock from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, May 25th. Zacks Investment Research raised Babcock from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. UBS AG cut Babcock from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $3.00 in a research note on Monday. Finally, Credit Suisse Group lowered 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. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.14.

Babcock Company Profile

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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Institutional Ownership by Quarter for Babcock (NYSE:BW)

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