Situational Awareness LP Raises Stock Holdings in Babcock $BW

Key Points

• Situational Awareness LP increased its Babcock position by 49.7% in the second quarter, holding 2.03 million shares worth approximately $28.6 million. Institutional investors collectively own 83.17% of the company.
• Babcock reported quarterly EPS of $0.04, beating estimates of $0.02, while revenue reached $319.69 million versus the $196.95 million consensus estimate. Despite the earnings beat, the company posted a negative net margin and return on equity.
• The stock opened at $7.12, well below its 52-week high of $22.03. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $15.40.

Situational Awareness LP grew its position in shares of Babcock (NYSE:BW - Free Report) by 49.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,027,451 shares of the technology company's stock after purchasing an additional 673,551 shares during the period. Babcock makes up about 0.1% of Situational Awareness LP's holdings, making the stock its 19th largest holding. Situational Awareness LP owned about 1.36% of Babcock worth $28,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Marshall Wace LLP boosted its stake in shares of Babcock by 93.0% in the 2nd quarter. Marshall Wace LLP now owns 395,945 shares of the technology company's stock valued at $380,000 after buying an additional 190,814 shares during the period. Nomura Holdings Inc. grew its holdings in shares of Babcock by 58.2% during the second quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company's stock worth $123,000 after purchasing an additional 46,884 shares during the last quarter. Vanguard Group Inc. grew its stake in Babcock by 54.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company's stock worth $12,827,000 after buying an additional 1,556,692 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Babcock during the third quarter worth approximately $74,000. Finally, Legal & General Group Plc acquired a new position in Babcock in the third quarter valued at $14,086,000. Hedge funds and other institutional investors own 83.17% of the company's stock.

Babcock Stock Performance

Babcock stock opened at $7.12 on Friday. Babcock has a fifty-two week low of $1.97 and a fifty-two week high of $22.03. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -39.55 and a beta of 1.19. The stock has a fifty day moving average of $9.84 and a two-hundred day moving average of $13.46. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.33 and a current ratio of 1.45.

Babcock (NYSE:BW - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $196.95 million. On average, analysts anticipate that Babcock will post 0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BW shares. Needham & Company LLC started coverage on Babcock in a report on Monday. They issued a "buy" rating and a $20.00 target price on the stock. Wall Street Zen lowered Babcock from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Northland Securities set a $23.00 price objective on shares of Babcock in a research note on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Babcock from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.40.

Insider Activity

In other news, Director Philip Moeller purchased 5,000 shares of the stock in a transaction dated 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 directly owned 240,809 shares in the company, valued at $2,287,685.50. This represents a 2.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by corporate insiders.

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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