Renaissance Technologies LLC decreased its position in Babcock (NYSE:BW) by 43.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,800 shares of the technology company’s stock after selling 140,575 shares during the period. Renaissance Technologies LLC’s holdings in Babcock were worth $1,679,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL increased its stake in Babcock by 0.6% in the first quarter. Virginia Retirement Systems ET AL now owns 83,200 shares of the technology company’s stock worth $777,000 after buying an additional 500 shares during the last quarter. Victory Capital Management Inc. increased its stake in Babcock by 2.3% in the first quarter. Victory Capital Management Inc. now owns 66,800 shares of the technology company’s stock worth $624,000 after buying an additional 1,525 shares during the last quarter. American International Group Inc. increased its stake in Babcock by 7.1% in the first quarter. American International Group Inc. now owns 28,154 shares of the technology company’s stock worth $263,000 after buying an additional 1,859 shares during the last quarter. Wexford Capital LP increased its stake in Babcock by 43.9% in the first quarter. Wexford Capital LP now owns 14,900 shares of the technology company’s stock worth $139,000 after buying an additional 4,545 shares during the last quarter. Finally, US Bancorp DE increased its stake in Babcock by 77.2% in the first quarter. US Bancorp DE now owns 11,671 shares of the technology company’s stock worth $109,000 after buying an additional 5,083 shares during the last quarter. Institutional investors own 92.85% of the company’s stock.
Babcock (BW) traded up 2.308% during midday trading on Monday, reaching $1.995. The company had a trading volume of 1,508,403 shares. The company’s market capitalization is $97.35 million. The stock has a 50-day moving average price of $9.05 and a 200 day moving average price of $10.77. Babcock has a 12-month low of $1.84 and a 12-month high of $17.72.
Babcock (NYSE:BW) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $2.68. The firm had revenue of $349.80 million for the quarter, compared to the consensus estimate of $434.34 million. Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) earnings per share. Equities analysts forecast that Babcock will post ($1.92) EPS for the current year.
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A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Babcock from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Monday, July 3rd. BidaskClub downgraded Babcock from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Sidoti dropped their price objective on Babcock from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, May 25th. UBS AG downgraded Babcock from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $13.00 to $3.00 in a report on Monday, August 14th. Finally, Credit Suisse Group dropped their price objective on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $10.14.
Babcock Company Profile
Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.
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