Los Angeles Capital Management LLC Purchases 402,350 Shares of Babcock & Wilcox Enterprises, Inc. (NYSE:BW)

Los Angeles Capital Management LLC boosted its holdings in shares of Babcock & Wilcox Enterprises, Inc. (NYSE:BW) by 116.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 746,421 shares of the technology company’s stock after acquiring an additional 402,350 shares during the period. Los Angeles Capital Management LLC owned approximately 0.84% of Babcock & Wilcox Enterprises worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aigen Investment Management LP acquired a new position in Babcock & Wilcox Enterprises in the 3rd quarter worth $65,000. SG Americas Securities LLC grew its holdings in shares of Babcock & Wilcox Enterprises by 128.4% during the fourth quarter. SG Americas Securities LLC now owns 70,354 shares of the technology company’s stock worth $103,000 after buying an additional 39,557 shares in the last quarter. Olympiad Research LP acquired a new stake in Babcock & Wilcox Enterprises in the 3rd quarter valued at approximately $104,000. Acadian Asset Management LLC lifted its stake in Babcock & Wilcox Enterprises by 226.0% in the 3rd quarter. Acadian Asset Management LLC now owns 97,938 shares of the technology company’s stock valued at $411,000 after acquiring an additional 67,894 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Babcock & Wilcox Enterprises by 15.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,942 shares of the technology company’s stock valued at $450,000 after purchasing an additional 14,211 shares during the last quarter. 83.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Kenneth M. Young purchased 29,229 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were acquired at an average price of $1.03 per share, with a total value of $30,105.87. Following the completion of the transaction, the chief executive officer now owns 241,745 shares of the company’s stock, valued at approximately $248,997.35. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders bought 59,229 shares of company stock worth $62,006. 4.26% of the stock is currently owned by insiders.

Babcock & Wilcox Enterprises Price Performance

Shares of NYSE:BW opened at $1.17 on Thursday. The company’s 50 day simple moving average is $1.13 and its 200 day simple moving average is $1.40. Babcock & Wilcox Enterprises, Inc. has a 1 year low of $0.75 and a 1 year high of $6.64. The stock has a market capitalization of $104.24 million, a price-to-earnings ratio of -0.49 and a beta of 1.41.

Babcock & Wilcox Enterprises (NYSE:BW) last announced its quarterly earnings results on Thursday, March 14th. The technology company reported ($0.22) EPS for the quarter. The firm had revenue of $227.20 million during the quarter, compared to analysts’ expectations of $255.20 million. As a group, analysts anticipate that Babcock & Wilcox Enterprises, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BW. StockNews.com downgraded shares of Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday. Lake Street Capital lowered their target price on Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Finally, DA Davidson decreased their price target on Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, March 19th.

About Babcock & Wilcox Enterprises

Babcock & Wilcox Enterprises, Inc, together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal.