Equitec Proprietary Markets LLC Invests $9.83 Million in Babcock $BW

Equitec Proprietary Markets LLC purchased a new position in Babcock (NYSE:BW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 697,221 shares of the technology company’s stock, valued at approximately $9,831,000. Babcock accounts for 1.8% of Equitec Proprietary Markets LLC’s investment portfolio, making the stock its 4th largest position. Equitec Proprietary Markets LLC owned approximately 0.47% of Babcock as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BW. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Babcock during the second quarter worth about $1,956,000. Wellington Management Group LLP bought a new stake in shares of Babcock during the 2nd quarter worth approximately $18,260,000. NewEdge Advisors LLC bought a new position in Babcock in the first quarter valued at approximately $162,000. Bank of America Corp DE raised its position in Babcock by 1,743.7% during the first 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, Royal Bank of Canada raised its position in Babcock by 57.3% during the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

Babcock Price Performance

BW stock opened at $7.14 on Friday. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -39.66 and a beta of 1.21. 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 company has a 50 day simple moving average of $10.52 and a 200 day simple moving average of $13.50. Babcock has a 1 year low of $1.97 and a 1 year high of $22.03.

Babcock (NYSE:BW) last issued its earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $319.69 million for the quarter, compared to analyst estimates of $196.95 million. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. Research analysts anticipate that Babcock will post 0.27 EPS for the current fiscal year.

Insider Transactions at Babcock

In other news, Director Philip D. Moeller bought 5,000 shares of the stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $9.50 per share, with a total value of $47,500.00. Following the acquisition, the director directly owned 240,809 shares in the company, valued at approximately $2,287,685.50. This trade represents a 2.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on BW. Northland Securities set a $23.00 target price on Babcock in a report on Tuesday, May 12th. Weiss Ratings upgraded Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.25.

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.