355,000 Shares in Babcock $BW Acquired by Royce & Associates LP

Royce & Associates LP bought a new position in Babcock (NYSE:BW) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 355,000 shares of the technology company’s stock, valued at approximately $2,251,000. Royce & Associates LP owned approximately 0.32% of Babcock at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. GatePass Capital LLC purchased a new position in shares of Babcock in the fourth quarter worth approximately $634,000. Legal & General Group Plc increased its position in shares of Babcock by 10.8% in the fourth quarter. Legal & General Group Plc now owns 5,380,991 shares of the technology company’s stock worth $34,115,000 after acquiring an additional 523,776 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Babcock by 1,085.4% in the fourth quarter. Global Retirement Partners LLC now owns 291,597 shares of the technology company’s stock worth $1,849,000 after acquiring an additional 266,997 shares in the last quarter. Covestor Ltd increased its position in shares of Babcock by 25.2% in the fourth quarter. Covestor Ltd now owns 175,127 shares of the technology company’s stock worth $1,110,000 after acquiring an additional 35,262 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Babcock in the fourth quarter worth approximately $569,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Kenneth M. Young acquired 7,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were purchased at an average cost of $15.14 per share, with a total value of $105,980.00. Following the completion of the transaction, the chief executive officer owned 1,656,512 shares of the company’s stock, valued at approximately $25,079,591.68. This trade represents a 0.42% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Northland Securities set a $23.00 target price on shares of Babcock in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Finally, Craig Hallum reissued a “buy” rating and issued a $19.00 target price on shares of Babcock in a research report on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Babcock presently has a consensus rating of “Hold” and a consensus price target of $14.25.

Babcock Stock Performance

Shares of BW opened at $18.41 on Friday. The company’s 50 day moving average price is $17.04 and its 200 day moving average price is $11.27. Babcock has a 52 week low of $0.68 and a 52 week high of $22.03. The company has a market capitalization of $2.74 billion, a PE ratio of -20.92 and a beta of 1.08.

Babcock (NYSE:BW) last announced its quarterly earnings data on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The company had revenue of $214.41 million for the quarter, compared to analysts’ expectations of $149.72 million. On average, equities analysts forecast that Babcock will post 0.29 earnings per share for the current fiscal year.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.