Assenagon Asset Management S.A. Decreases Stock Holdings in Babcock $BW

Assenagon Asset Management S.A. lessened its position in shares of Babcock (NYSE:BW) by 51.4% in the third quarter, Holdings Channel reports. The fund owned 278,222 shares of the technology company’s stock after selling 294,765 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Babcock were worth $807,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gendell Jeffrey L raised its stake 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 acquiring an additional 849,602 shares during the period. Acadian Asset Management LLC boosted its position in shares of Babcock by 13.6% in the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after purchasing an additional 237,797 shares during the period. Quinn Opportunity Partners LLC increased its stake in shares of Babcock by 200.0% in the second quarter. Quinn Opportunity Partners LLC now owns 90,000 shares of the technology company’s stock worth $87,000 after purchasing an additional 60,000 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Babcock by 1.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock valued at $1,160,000 after purchasing an additional 22,452 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Babcock by 93.0% during the 2nd quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock valued at $380,000 after buying an additional 190,814 shares in the last quarter. 83.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have 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 price target on the stock in a report on Wednesday, November 5th. Lake Street Capital restated a “buy” rating and issued a $9.00 price target on shares of Babcock in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Finally, DA Davidson upped their target price on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.33.

Babcock Price Performance

Shares of BW stock opened at $5.35 on Thursday. The company has a market capitalization of $594.39 million, a P/E ratio of -4.12 and a beta of 1.37. The company’s 50-day simple moving average is $5.24 and its two-hundred day simple moving average is $3.02. Babcock has a one year low of $0.22 and a one year high of $7.77.

Babcock (NYSE:BW) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $155.57 million.

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.