Acadian Asset Management LLC Has $1.33 Million Holdings in Babcock $BW

Acadian Asset Management LLC lifted its holdings in shares of Babcock (NYSE:BW) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,985,590 shares of the technology company’s stock after purchasing an additional 237,797 shares during the quarter. Acadian Asset Management LLC owned 2.02% of Babcock worth $1,333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Babcock in the fourth quarter valued at approximately $27,000. Two Sigma Advisers LP increased its position in shares of Babcock by 106.7% in the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company’s stock valued at $44,000 after acquiring an additional 13,800 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Babcock by 181.1% in the fourth quarter. Two Sigma Investments LP now owns 97,155 shares of the technology company’s stock valued at $159,000 after acquiring an additional 62,598 shares during the last quarter. Equitec Proprietary Markets LLC increased its position in shares of Babcock by 28.3% in the first quarter. Equitec Proprietary Markets LLC now owns 327,365 shares of the technology company’s stock valued at $220,000 after acquiring an additional 72,265 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Babcock in the fourth quarter valued at about $239,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Craig Hallum raised Babcock from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Wall Street Zen downgraded shares of Babcock from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $3.00.

Babcock Trading Down 4.1%

BW stock opened at $3.07 on Thursday. The firm has a market capitalization of $310.38 million, a PE ratio of -1.81 and a beta of 1.83. Babcock has a 1-year low of $0.22 and a 1-year high of $3.34. The business’s 50 day simple moving average is $1.62 and its 200 day simple moving average is $1.05.

Babcock (NYSE:BW) last posted its earnings results on Monday, August 11th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The company had revenue of $144.10 million during the quarter, compared to analyst estimates of $182.07 million.

Insider Activity at Babcock

In other news, CFO Cameron M. Frymyer acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $1.55 per share, with a total value of $31,000.00. Following the acquisition, the chief financial officer directly owned 153,805 shares in the company, valued at $238,397.75. This represents a 14.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kenneth M. Young purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $1.51 per share, for a total transaction of $30,200.00. Following the completion of the purchase, the chief executive officer directly owned 261,745 shares of the company’s stock, valued at $395,234.95. This represents a 8.27% increase in their position. The disclosure for this purchase can be found here. Insiders bought 59,347 shares of company stock worth $99,803 in the last ninety days. 3.90% of the stock is owned by company insiders.

About Babcock

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.