Investment Management of Virginia LLC lowered its position in shares of Babcock (NYSE:BW) by 67.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,412 shares of the technology company’s stock after selling 220,438 shares during the quarter. Investment Management of Virginia LLC owned approximately 0.22% of Babcock worth $351,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Babcock by 8.0% during the second quarter. Vanguard Group Inc. now owns 4,232,623 shares of the technology company’s stock valued at $49,776,000 after acquiring an additional 312,969 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Babcock by 10.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,244,099 shares of the technology company’s stock valued at $26,391,000 after purchasing an additional 209,171 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Babcock by 21.9% in the second quarter. New York State Common Retirement Fund now owns 1,531,840 shares of the technology company’s stock valued at $18,014,000 after purchasing an additional 275,399 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Babcock by 0.7% in the second quarter. Teachers Advisors LLC now owns 1,351,709 shares of the technology company’s stock valued at $15,896,000 after purchasing an additional 9,872 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Babcock by 34.9% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,231,004 shares of the technology company’s stock valued at $14,477,000 after purchasing an additional 318,330 shares during the last quarter. 91.75% of the stock is owned by institutional investors and hedge funds.

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Several equities research analysts recently commented on the company. BidaskClub cut Babcock from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Credit Suisse Group cut their price target on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a report on Friday, August 11th. UBS AG cut 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 cut Babcock from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Babcock in a report on Friday, September 22nd. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $7.18.

In other Babcock news, major shareholder Vintage Capital Management Llc acquired 1,686,945 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was bought 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 accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Shares of Babcock (NYSE:BW) traded up $0.15 during trading on Tuesday, reaching $4.21. The company had a trading volume of 1,020,750 shares, compared to its average volume of 1,717,930. Babcock has a 52 week low of $1.61 and a 52 week high of $17.72. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Babcock (NYSE:BW) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) earnings per share 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 analysts’ expectations of $434.34 million. Babcock had a negative return on equity of 35.95% and a negative net margin of 14.41%. The company’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) earnings per share. equities research analysts predict that Babcock will post -2.63 EPS for the current year.

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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