Janus Henderson Group PLC Buys Shares of 28,941 Babcock (BW)
Janus Henderson Group PLC bought a new position in Babcock (NYSE:BW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,941 shares of the technology company’s stock, valued at approximately $340,000. Janus Henderson Group PLC owned about 0.06% of Babcock as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of BW. Sei Investments Co. boosted its stake in Babcock by 34.1% in the 2nd quarter. Sei Investments Co. now owns 11,570 shares of the technology company’s stock worth $136,000 after purchasing an additional 2,940 shares during the period. Tudor Investment Corp ET AL boosted its stake in Babcock by 24.5% in the 1st quarter. Tudor Investment Corp ET AL now owns 14,930 shares of the technology company’s stock worth $139,000 after purchasing an additional 2,937 shares during the period. ETRADE Capital Management LLC boosted its stake in Babcock by 0.7% in the 2nd quarter. ETRADE Capital Management LLC now owns 13,288 shares of the technology company’s stock worth $156,000 after purchasing an additional 95 shares during the period. Karp Capital Management Corp acquired a new position in Babcock in the 1st quarter worth approximately $169,000. Finally, UBS Asset Management Americas Inc. boosted its stake in Babcock by 60.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 18,098 shares of the technology company’s stock worth $169,000 after purchasing an additional 6,800 shares during the period. 94.26% of the stock is currently owned by hedge funds and other institutional investors.
Babcock (BW) opened at 4.01 on Tuesday. Babcock has a 12-month low of $1.61 and a 12-month high of $17.72. The company’s market cap is $196.01 million. The stock’s 50 day moving average is $3.71 and its 200 day moving average is $3.71.
Babcock (NYSE:BW) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($2.68). Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The company had revenue of $349.80 million during the quarter, compared to the consensus estimate of $434.34 million. During the same period in the previous year, the company earned ($0.20) earnings per share. Babcock’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities analysts forecast that Babcock will post ($2.59) earnings per share for the current year.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Babcock from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Monday, July 3rd. BidaskClub lowered shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. KeyCorp restated a “hold” rating on shares of Babcock in a report on Friday, September 22nd. UBS AG downgraded shares of Babcock from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $3.00 in a report on Monday, August 14th. Finally, Credit Suisse Group cut their price target on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating on the stock in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $7.18.
In other Babcock news, major shareholder Vintage Capital Management Llc purchased 1,686,945 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average cost of $3.10 per share, with a total value of $5,229,529.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is currently owned by company insiders.
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Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.
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