GatePass Capital LLC Buys Shares of 100,000 Babcock $BW

GatePass Capital LLC bought a new position in shares of Babcock (NYSE:BW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the technology company’s stock, valued at approximately $634,000. GatePass Capital LLC owned about 0.09% of Babcock at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of Babcock in the 3rd quarter valued at approximately $14,086,000. Marshall Wace LLP increased its stake in Babcock by 497.7% in the third quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock valued at $6,863,000 after purchasing an additional 1,970,656 shares in the last quarter. Vanguard Group Inc. raised its holdings in Babcock by 54.3% in the third quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after purchasing an additional 1,556,692 shares during the period. UBS Group AG raised its holdings in Babcock by 337.1% in the fourth quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after purchasing an additional 1,114,593 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Babcock by 1,085.4% during the fourth quarter. Global Retirement Partners LLC now owns 291,597 shares of the technology company’s stock worth $1,849,000 after purchasing an additional 266,997 shares in the last quarter. 83.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Northland Securities set a $23.00 target price on Babcock in a research note on Tuesday, May 12th. Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $19.00 price target on shares of Babcock in a research report on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.25.

Insiders Place Their Bets

In other news, CEO Kenneth M. Young purchased 7,000 shares of Babcock stock in a transaction on Wednesday, March 18th. The stock was purchased at an average price of $15.14 per share, with a total value of $105,980.00. Following the transaction, the chief executive officer directly owned 1,656,512 shares in the company, valued at $25,079,591.68. The trade was a 0.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Babcock Trading Up 0.1%

Shares of NYSE BW opened at $19.05 on Tuesday. The company has a fifty day moving average price of $16.53 and a 200 day moving average price of $10.92. The firm has a market cap of $2.83 billion, a PE ratio of -21.65 and a beta of 1.08. Babcock has a 1-year low of $0.62 and a 1-year high of $22.03.

Babcock (NYSE:BW) last issued its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The firm had revenue of $214.41 million during the quarter, compared to the consensus estimate of $149.72 million. Equities research analysts forecast that Babcock will post 0.29 EPS for the current year.

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.