Cameron Frymyer Buys 2,853 Shares of Babcock (NYSE:BW) Stock

Babcock (NYSE:BW) CFO Cameron Frymyer bought 2,853 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average price of $7.05 per share, for a total transaction of $20,113.65. Following the completion of the acquisition, the chief financial officer owned 156,658 shares in the company, valued at approximately $1,104,438.90. This trade represents a 1.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Babcock Stock Up 2.7%

Shares of NYSE:BW opened at $6.68 on Friday. The company has a market capitalization of $741.59 million, a price-to-earnings ratio of -3.93 and a beta of 1.91. The company has a 50 day moving average of $3.67 and a two-hundred day moving average of $2.00. Babcock has a 52-week low of $0.22 and a 52-week high of $7.77.

Babcock (NYSE:BW) last posted its earnings results on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Analysts Set New Price Targets

Several analysts have recently weighed in on BW shares. Wall Street Zen upgraded Babcock from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a report on Wednesday, October 8th. DA Davidson lifted their price objective on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday. Lake Street Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Babcock in a research report on Wednesday, November 5th. Finally, Craig Hallum raised shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new stake in Babcock during the third quarter worth about $14,086,000. Marshall Wace LLP raised its position in shares of Babcock by 497.7% during the 3rd quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock worth $6,863,000 after purchasing an additional 1,970,656 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Babcock by 54.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after purchasing an additional 1,556,692 shares during the last quarter. Thames Capital Management LLC bought a new stake in shares of Babcock in the 3rd quarter worth approximately $4,033,000. Finally, Gendell Jeffrey L boosted its position in Babcock by 49.2% during the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after purchasing an additional 849,602 shares during the period. Institutional investors and hedge funds own 83.17% of the company’s stock.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.