Bastion Asset Management Inc. Takes $450,000 Position in Babcock $BW

Bastion Asset Management Inc. bought a new position in shares of Babcock (NYSE:BW) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 150,576 shares of the technology company’s stock, valued at approximately $450,000. Bastion Asset Management Inc. owned 0.15% of Babcock as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Platform Technology Partners purchased a new stake in Babcock during the third quarter worth approximately $54,000. Kathmere Capital Management LLC acquired a new position in shares of Babcock during the 3rd quarter valued at $58,000. Global Retirement Partners LLC purchased a new stake in Babcock during the 3rd quarter worth $71,000. Manning & Napier Advisors LLC acquired a new stake in Babcock in the 3rd quarter valued at $96,000. Finally, Nomura Holdings Inc. raised its position in Babcock by 58.2% in the second quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock valued at $123,000 after purchasing an additional 46,884 shares during the period. 83.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BW has been the subject of several analyst reports. Craig Hallum raised Babcock from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Wednesday, November 5th. Northland Securities started coverage on Babcock in a research report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price target on the stock. DA Davidson upped their price target on Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Wall Street Zen upgraded shares of Babcock from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research raised shares of Babcock to a “hold” rating in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.00.

Insider Transactions at Babcock

In other Babcock news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total transaction of $10,398,438.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is owned by corporate insiders.

Babcock Stock Up 1.2%

BW stock opened at $9.74 on Monday. The stock’s 50 day moving average is $7.59 and its two-hundred day moving average is $4.94. Babcock has a 52-week low of $0.22 and a 52-week high of $11.57. The company has a market capitalization of $1.08 billion, a PE ratio of -7.49 and a beta of 1.55.

About Babcock

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.