Legal & General Group Plc Increases Stock Position in Babcock $BW

Legal & General Group Plc raised its position in shares of Babcock (NYSE:BW) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,380,991 shares of the technology company’s stock after purchasing an additional 523,776 shares during the period. Legal & General Group Plc’s holdings in Babcock were worth $34,115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BW. Marshall Wace LLP lifted its position in Babcock by 497.7% during the third quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock valued at $6,863,000 after buying an additional 1,970,656 shares during the period. Vanguard Group Inc. lifted its position in Babcock by 54.3% during the third quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock valued at $12,827,000 after buying an additional 1,556,692 shares during the period. UBS Group AG lifted its position in Babcock by 337.1% during the fourth quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock valued at $9,163,000 after buying an additional 1,114,593 shares during the period. Global Retirement Partners LLC lifted its position in Babcock by 1,085.4% during the fourth quarter. Global Retirement Partners LLC now owns 291,597 shares of the technology company’s stock valued at $1,849,000 after buying an additional 266,997 shares during the period. Finally, Palumbo Wealth Management LLC purchased a new position in Babcock during the third quarter valued at $625,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Insiders Place Their Bets

In other Babcock news, CEO Kenneth M. Young bought 7,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was acquired at an average price of $15.14 per share, with a total value of $105,980.00. Following the transaction, the chief executive officer owned 1,656,512 shares in the company, valued at $25,079,591.68. This represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Babcock Price Performance

Shares of Babcock stock opened at $18.41 on Friday. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -20.92 and a beta of 1.08. The firm’s 50-day moving average is $17.04 and its 200 day moving average is $11.27. Babcock has a 1 year low of $0.68 and a 1 year high of $22.03.

Babcock (NYSE:BW) last announced its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share (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 the consensus estimate of $149.72 million. On average, equities analysts expect that Babcock will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on BW. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Northland Securities set a $23.00 price objective on Babcock in a research report on Tuesday, May 12th. Finally, Craig Hallum reissued a “buy” rating and set a $19.00 price objective 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.25.

About Babcock

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.