Citizens Financial Group Inc. RI Purchases New Shares in Babcock $BW

Citizens Financial Group Inc. RI acquired a new position in shares of Babcock (NYSE:BW) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 400,000 shares of the technology company’s stock, valued at approximately $1,160,000. Citizens Financial Group Inc. RI owned about 0.40% of Babcock as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BW. Kathmere Capital Management LLC acquired a new position in Babcock in the 3rd quarter valued at about $58,000. Global Retirement Partners LLC purchased a new position in Babcock during the third quarter worth about $71,000. Shikiar Asset Management Inc. acquired a new stake in Babcock in the third quarter valued at about $138,000. Nomura Holdings Inc. boosted its holdings in Babcock by 58.2% in the 2nd quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock valued at $123,000 after purchasing an additional 46,884 shares in the last quarter. Finally, Gendell Jeffrey L increased its position in Babcock by 49.2% during the 2nd quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock worth $2,477,000 after purchasing an additional 849,602 shares during the period. Institutional investors and hedge funds own 83.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BW shares. Wall Street Zen raised Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Craig Hallum raised Babcock from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Lake Street Capital reiterated a “buy” rating and issued a $9.00 price target on shares of Babcock in a report on Wednesday, November 5th. Finally, DA Davidson boosted their price objective on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.33.

Babcock Stock Down 3.3%

Shares of BW stock opened at $8.21 on Thursday. The stock has a market cap of $912.13 million, a P/E ratio of -6.32 and a beta of 1.43. Babcock has a fifty-two week low of $0.22 and a fifty-two week high of $8.58. The business has a fifty day simple moving average of $6.19 and a 200-day simple moving average of $3.61.

Babcock (NYSE:BW) last announced its earnings results on Tuesday, November 4th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

About Babcock

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.