Arrowstreet Capital Limited Partnership boosted its position in Babcock (NYSE:BW - Free Report) by 777.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,974,324 shares of the technology company's stock after purchasing an additional 2,635,304 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.18% of Babcock worth $43,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of the company. Situational Awareness LP bought a new stake in Babcock during the fourth quarter valued at approximately $8,584,000. UBS Group AG raised its position in shares of Babcock by 337.1% during the 4th 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Babcock during the 4th quarter valued at $569,000. Palumbo Wealth Management LLC lifted its holdings in shares of Babcock by 38.1% during the 4th quarter. Palumbo Wealth Management LLC now owns 297,681 shares of the technology company's stock worth $1,887,000 after acquiring an additional 82,118 shares during the last quarter. Finally, Mangrove Partners IM LLC bought a new stake in shares of Babcock during the 4th quarter worth $589,000. 83.17% of the stock is owned by institutional investors.
Babcock Price Performance
BW stock opened at $9.38 on Tuesday. Babcock has a 1 year low of $0.87 and a 1 year high of $22.03. The company has a market cap of $1.40 billion, a P/E ratio of -10.66 and a beta of 1.16. The firm has a 50-day moving average of $14.75 and a 200 day moving average of $13.54.
Babcock (NYSE:BW - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The company had revenue of $214.41 million during the quarter, compared to the consensus estimate of $149.72 million. On average, equities research analysts expect that Babcock will post 0.31 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
BW has been the subject of a number of research reports. Northland Securities set a $23.00 price objective on Babcock in a report on Tuesday, May 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Babcock in a report on Friday, July 17th. Finally, Wall Street Zen downgraded Babcock from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Babcock presently has an average rating of "Hold" and a consensus price target of $14.25.
Check Out Our Latest Stock Report on Babcock
Babcock Company Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Babcock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Babcock wasn't on the list.
While Babcock currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
