Brc Group Holdings, Inc. Sells 1,155,382 Shares of Babcock (NYSE:BW) Stock

Babcock (NYSE:BW) major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total transaction of $10,398,438.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Babcock Stock Up 1.2%

Babcock stock opened at $9.74 on Friday. Babcock has a 52-week low of $0.22 and a 52-week high of $11.57. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -7.49 and a beta of 1.55. The firm has a 50-day moving average price of $7.59 and a two-hundred day moving average price of $4.91.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Northland Securities initiated coverage on Babcock in a report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price target on the stock. Lake Street Capital restated a “buy” rating and set a $9.00 price target on shares of Babcock in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, January 21st. DA Davidson raised their price objective on shares of Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Finally, Zacks Research raised Babcock to a “hold” rating in a report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Hedge Funds Weigh In On Babcock

A number of hedge funds have recently modified their holdings of the stock. Huntington National Bank boosted its position in Babcock by 400,000.0% during the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after purchasing an additional 4,000 shares during the last quarter. State of Wyoming lifted its holdings in shares of Babcock by 88.7% during the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after buying an additional 4,936 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Babcock in the 3rd quarter valued at approximately $31,000. Raymond James Financial Inc. increased its holdings in Babcock by 11,311.3% in the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after buying an additional 11,990 shares during the last quarter. Finally, LPL Financial LLC bought a new position in Babcock during the fourth quarter valued at approximately $80,000. 83.17% of the stock is owned by institutional investors and hedge funds.

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.