Sei Investments Co. Buys 2,940 Shares of Babcock (BW)

Sei Investments Co. lifted its stake in Babcock (NYSE:BW) by 34.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,570 shares of the technology company’s stock after buying an additional 2,940 shares during the period. Sei Investments Co.’s holdings in Babcock were worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. US Bancorp DE raised its position in Babcock by 77.2% during the first quarter. US Bancorp DE now owns 11,671 shares of the technology company’s stock valued at $109,000 after purchasing an additional 5,083 shares in the last quarter. Cullen Capital Management LLC acquired a new position in Babcock during the first quarter valued at approximately $114,000. Wexford Capital LP raised its position in Babcock by 43.9% during the first quarter. Wexford Capital LP now owns 14,900 shares of the technology company’s stock valued at $139,000 after purchasing an additional 4,545 shares in the last quarter. Tudor Investment Corp ET AL raised its position in Babcock by 24.5% during the first quarter. Tudor Investment Corp ET AL now owns 14,930 shares of the technology company’s stock valued at $139,000 after purchasing an additional 2,937 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Babcock during the first quarter valued at approximately $169,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Babcock from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. UBS AG downgraded shares of Babcock from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $3.00 in a research report on Monday, August 14th. Credit Suisse Group lowered their price objective on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research report on Friday, August 11th. BidaskClub downgraded shares of Babcock from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Finally, Sidoti lowered their price objective on shares of Babcock from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $7.18.

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Babcock (NYSE:BW) opened at 2.86 on Wednesday. The stock’s 50 day moving average is $2.60 and its 200 day moving average is $12.07. The firm’s market capitalization is $139.57 million. Babcock has a one year low of $2.51 and a one year high of $17.72.

Babcock (NYSE:BW) last announced its quarterly earnings results 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). Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The firm had revenue of $349.80 million during the quarter, compared to the consensus estimate of $434.34 million. During the same period in the previous year, the business earned ($0.20) earnings per share. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, equities research analysts predict that Babcock will post ($2.46) earnings per share for the current fiscal year.

About Babcock

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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Institutional Ownership by Quarter for Babcock (NYSE:BW)

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