Babcock (NYSE:BW) major shareholder Vintage Capital Management Llc purchased 1,686,945 shares of Babcock stock in a transaction that occurred on Thursday, September 14th. The shares were bought at an average cost of $3.10 per share, with a total value of $5,229,529.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Babcock (BW) traded down 3.60% during mid-day trading on Tuesday, hitting $3.48. The stock had a trading volume of 3,190,404 shares. The firm’s 50-day moving average price is $3.15 and its 200-day moving average price is $4.20. The stock’s market cap is $170.10 million. Babcock has a 1-year low of $2.51 and a 1-year high of $17.72.

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. On average, equities analysts expect that Babcock will post ($2.46) earnings per share for the current year.

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A number of analysts have recently issued reports on BW shares. Zacks Investment Research raised Babcock from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, July 3rd. BidaskClub cut Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Sidoti cut their price objective on Babcock from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. UBS AG cut Babcock from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $3.00 in a research report on Monday, August 14th. Finally, Credit Suisse Group cut their price objective on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research report on Friday, August 11th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.18.

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings 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 valued at $19,006,000 after acquiring an additional 458,237 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Babcock by 0.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 282,251 shares of the technology company’s stock valued at $2,637,000 after acquiring an additional 2,430 shares in the last quarter. Clearline Capital LP bought a new position in shares of Babcock in the first quarter valued at approximately $885,000. Vanguard Group Inc. grew its holdings 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 valued at $36,610,000 after acquiring an additional 160,524 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Babcock in the first quarter valued at approximately $198,000. 93.81% of the stock is owned by institutional investors.

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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