612,500 Shares in Babcock $BW Bought by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group acquired 612,500 Babcock shares worth approximately $8.6 million, giving it a 0.41% stake. Institutional investors collectively own 83.17% of the company.
• Director Philip D. Moeller purchased 5,000 shares at an average price of $9.50, increasing his position by 2.12%; insiders now own 2.80% of Babcock.
• Babcock exceeded quarterly earnings expectations, reporting $0.04 in EPS versus a $0.02 consensus and revenue of $319.69 million. Analysts maintain a consensus “Hold” rating with a $15.40 price target.

Alyeska Investment Group L.P. bought a new position in shares of Babcock (NYSE:BW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 612,500 shares of the technology company's stock, valued at approximately $8,636,000. Alyeska Investment Group L.P. owned about 0.41% of Babcock at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank grew its position in shares of Babcock by 400,000.0% in the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company's stock valued at $25,000 after purchasing an additional 4,000 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Babcock during the 4th quarter worth about $25,000. Royal Bank of Canada boosted its stake in Babcock by 57.3% during the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company's stock valued at $26,000 after purchasing an additional 650 shares during the period. Centiva Capital LP bought a new stake in Babcock during the 3rd quarter valued at approximately $31,000. Finally, Raymond James Financial Inc. boosted its stake in Babcock by 11,311.3% during the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company's stock valued at $35,000 after purchasing an additional 11,990 shares during the period. 83.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Babcock

In related news, Director Philip D. Moeller bought 5,000 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $9.50 per share, with a total value of $47,500.00. Following the acquisition, the director owned 240,809 shares in the company, valued at approximately $2,287,685.50. This represents a 2.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.80% of the company's stock.

Babcock Price Performance

Shares of NYSE:BW opened at $7.50 on Tuesday. The firm has a market capitalization of $1.12 billion, a PE ratio of -41.66 and a beta of 1.22. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 4.21. Babcock has a 1-year low of $1.97 and a 1-year high of $22.03. The business's 50 day moving average is $10.32 and its 200-day moving average is $13.52.

Babcock (NYSE:BW - Get Free Report) last issued its earnings results on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%.The business had revenue of $319.69 million during the quarter, compared to analyst estimates of $196.95 million. Sell-side analysts predict that Babcock will post 0.27 earnings per share for the current year.

Wall Street Analyst Weigh In

BW has been the topic of several recent analyst reports. Northland Securities set a $23.00 price target on Babcock in a research report on Tuesday, May 12th. Needham & Company LLC started coverage on shares of Babcock in a research note on Monday. They issued a "buy" rating and a $20.00 price objective on the stock. Wall Street Zen downgraded shares of Babcock from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Finally, Weiss Ratings raised shares of Babcock from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Four research 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.40.

Babcock 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.

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