Legal & General Group Plc Purchases 523,776 Shares of Babcock $BW

Legal & General Group Plc increased its position in Babcock (NYSE:BW) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,380,991 shares of the technology company’s stock after buying an additional 523,776 shares during the quarter. Legal & General Group Plc owned 4.84% of Babcock worth $34,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centiva Capital LP bought a new stake in Babcock during the 3rd quarter valued at $31,000. Raymond James Financial Inc. raised its holdings in Babcock by 11,311.3% during the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after buying an additional 11,990 shares during the last quarter. Sender Co & Partners Inc. bought a new position in shares of Babcock during the third quarter valued at about $50,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Babcock during the fourth quarter worth about $111,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Babcock during the third quarter worth about $69,000. 83.17% of the stock is currently owned by institutional investors.

Babcock Stock Down 4.0%

NYSE:BW opened at $18.41 on Friday. The stock has a market cap of $2.74 billion, a P/E ratio of -20.92 and a beta of 1.08. The firm’s fifty day simple moving average is $17.04 and its 200 day simple moving average is $11.27. Babcock has a twelve month low of $0.68 and a twelve month high of $22.03.

Babcock (NYSE:BW) last released its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The company had revenue of $214.41 million for the quarter, compared to analyst estimates of $149.72 million. On average, analysts expect that Babcock will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BW shares. Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Northland Securities set a $23.00 price objective on Babcock in a report on Tuesday, May 12th. Craig Hallum reiterated a “buy” rating and issued a $19.00 price objective on shares of Babcock in a research report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Monday, April 20th. Three 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. According to MarketBeat.com, Babcock currently has an average rating of “Hold” and a consensus price target of $14.25.

Insiders Place Their Bets

In related news, CEO Kenneth M. Young purchased 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were acquired at an average price of $15.14 per share, for a total transaction of $105,980.00. Following the completion of the acquisition, the chief executive officer directly owned 1,656,512 shares in the company, valued at approximately $25,079,591.68. The trade was a 0.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by company insiders.

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.