Assenagon Asset Management S.A. Sells 294,765 Shares of Babcock $BW

Assenagon Asset Management S.A. trimmed its holdings in Babcock (NYSE:BW) by 51.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,222 shares of the technology company’s stock after selling 294,765 shares during the period. Assenagon Asset Management S.A. owned approximately 0.28% of Babcock worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nomura Holdings Inc. grew its stake in Babcock by 58.2% during the second quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock valued at $123,000 after acquiring an additional 46,884 shares in the last quarter. Gendell Jeffrey L grew its position in shares of Babcock by 49.2% during the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after purchasing an additional 849,602 shares in the last quarter. Marshall Wace LLP grew its position in shares of Babcock by 93.0% during the 2nd quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock valued at $380,000 after purchasing an additional 190,814 shares in the last quarter. Quinn Opportunity Partners LLC increased its holdings in shares of Babcock by 200.0% in the second quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock worth $87,000 after purchasing an additional 60,000 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Babcock by 13.6% in the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after buying an additional 237,797 shares in the last quarter. Institutional investors own 83.17% of the company’s stock.

Babcock Trading Up 8.5%

Shares of NYSE BW opened at $5.35 on Thursday. The firm has a fifty day simple moving average of $5.24 and a two-hundred day simple moving average of $3.02. Babcock has a 12 month low of $0.22 and a 12 month high of $7.77. The firm has a market capitalization of $594.39 million, a PE ratio of -4.12 and a beta of 1.37.

Babcock (NYSE:BW) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $155.57 million.

Analyst Ratings Changes

BW has been the topic of a number of recent analyst reports. Craig Hallum raised shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Wednesday, November 5th. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. DA Davidson upped their price objective on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Lake Street Capital reiterated a “buy” rating and set a $9.00 price objective on shares of Babcock in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.33.

Babcock Company 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.