Babcock $BW Shares Newly Purchased by Kieckhefer Group LLC

Key Points

• Kieckhefer Group LLC acquired 393,500 Babcock shares in the third quarter, valued at approximately $2.3 million and representing 0.26% of the company. Institutional investors collectively own 83.17% of Babcock.
• Analyst sentiment is mixed: four analysts rate Babcock a Buy, two rate it Hold and one rates it Sell. The stock has an average “Hold” rating and a consensus price target of $15.40.
• Babcock shares recently traded at $4.93, down 1.5%, while the company’s latest quarterly results exceeded expectations with earnings of $0.04 per share versus the $0.02 consensus estimate and revenue of $319.72 million.

Kieckhefer Group LLC acquired a new position in shares of Babcock (NYSE:BW - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 393,500 shares of the technology company's stock, valued at approximately $2,298,000. Babcock comprises about 0.9% of Kieckhefer Group LLC's investment portfolio, making the stock its 18th largest holding. Kieckhefer Group LLC owned 0.26% of Babcock as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BW. Arrowstreet Capital Limited Partnership boosted its position in shares of Babcock by 777.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,974,324 shares of the technology company's stock worth $43,693,000 after acquiring an additional 2,635,304 shares during the last quarter. Situational Awareness LP increased its holdings in Babcock by 49.7% during the 2nd quarter. Situational Awareness LP now owns 2,027,451 shares of the technology company's stock worth $28,587,000 after purchasing an additional 673,551 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Babcock in the second quarter valued at $18,260,000. Bank of America Corp DE raised its stake in shares of Babcock by 1,743.7% in the 1st quarter. Bank of America Corp DE now owns 1,096,502 shares of the technology company's stock valued at $16,108,000 after purchasing an additional 1,037,028 shares in the last quarter. Finally, Cooper Creek Partners Management LLC bought a new position in Babcock during the 1st quarter worth approximately $15,205,000. Institutional investors and hedge funds own 83.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BW. Needham & Company LLC started coverage on shares of Babcock in a research report on Monday, August 31st. They issued a "buy" rating and a $20.00 price target on the stock. Weiss Ratings raised Babcock from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Babcock from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Babcock presently has an average rating of "Hold" and a consensus target price of $15.40.

Insider Activity at Babcock

In related news, Director Philip Moeller purchased 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $9.50 per share, for a total transaction of $47,500.00. Following the completion of the acquisition, the director owned 240,809 shares in the company, valued at $2,287,685.50. This trade represents a 2.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company's stock.

Babcock Trading Down 1.5%

NYSE BW traded down $0.07 on Tuesday, hitting $4.93. 1,702,858 shares of the company were exchanged, compared to its average volume of 4,227,334. The company has a debt-to-equity ratio of 4.21, a current ratio of 1.45 and a quick ratio of 1.33. The firm has a market capitalization of $735.12 million, a P/E ratio of -27.42 and a beta of 1.17. Babcock has a twelve month low of $3.06 and a twelve month high of $22.03. The company's 50 day moving average price is $7.46 and its 200-day moving average price is $12.49.

Babcock (NYSE:BW - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $319.72 million for the quarter, compared to analysts' expectations of $196.95 million. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. Analysts predict that Babcock will post 0.27 earnings per share for the current fiscal year.

Babcock Profile

Babcock & Wilcox Enterprises, Inc NYSE: BW is an energy and environmental technology company that provides products and services for power generation, industrial processing and emissions control. Its portfolio includes boilers, steam-generation equipment, thermal technologies, and systems designed to reduce air pollutants and improve energy efficiency.

The company also develops technologies for waste-to-energy, renewable energy, hydrogen production and carbon management. Its solutions are used by utilities, industrial operators, municipal organizations and other customers seeking to generate energy from conventional or alternative fuels while managing environmental impacts.

Babcock & Wilcox traces its roots to the Babcock & Wilcox Company, founded in the 19th century.

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