Arrowstreet Capital Limited Partnership Purchases 2,635,304 Shares of Babcock $BW

Arrowstreet Capital Limited Partnership boosted its position in Babcock (NYSE:BW) by 777.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,974,324 shares of the technology company’s stock after purchasing an additional 2,635,304 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.18% of Babcock worth $43,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Situational Awareness LP bought a new stake in Babcock during the fourth quarter valued at approximately $8,584,000. UBS Group AG raised its position in shares of Babcock by 337.1% during the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock valued at $9,163,000 after buying an additional 1,114,593 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Babcock during the 4th quarter valued at $569,000. Palumbo Wealth Management LLC lifted its holdings in shares of Babcock by 38.1% during the 4th quarter. Palumbo Wealth Management LLC now owns 297,681 shares of the technology company’s stock worth $1,887,000 after acquiring an additional 82,118 shares during the last quarter. Finally, Mangrove Partners IM LLC bought a new stake in shares of Babcock during the 4th quarter worth $589,000. 83.17% of the stock is owned by institutional investors.

Babcock Price Performance

BW stock opened at $9.38 on Tuesday. Babcock has a 1 year low of $0.87 and a 1 year high of $22.03. The company has a market cap of $1.40 billion, a P/E ratio of -10.66 and a beta of 1.16. The firm has a 50-day moving average of $14.75 and a 200 day moving average of $13.54.

Babcock (NYSE:BW) last issued its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The company had revenue of $214.41 million during the quarter, compared to the consensus estimate of $149.72 million. On average, equities research analysts expect that Babcock will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BW has been the subject of a number of research reports. Northland Securities set a $23.00 price objective on Babcock in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a report on Friday, July 17th. Finally, Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Babcock presently has an average rating of “Hold” and a consensus price target of $14.25.

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.