Babcock $BW Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in shares of Babcock (NYSE:BW) by 94.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,571 shares of the technology company’s stock after selling 262,173 shares during the period. Assenagon Asset Management S.A.’s holdings in Babcock were worth $229,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new position in Babcock in the fourth quarter worth approximately $25,000. XTX Topco Ltd lifted its position in shares of Babcock by 231.3% during the 4th quarter. XTX Topco Ltd now owns 260,360 shares of the technology company’s stock valued at $1,651,000 after acquiring an additional 181,768 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in shares of Babcock during the 4th quarter valued at $84,000. Saba Capital Management L.P. bought a new stake in shares of Babcock during the 4th quarter worth $4,318,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Babcock during the 4th quarter worth $165,000. 83.17% of the stock is currently owned by institutional investors.

Babcock Stock Performance

Shares of BW opened at $11.70 on Friday. The firm has a market cap of $1.74 billion, a PE ratio of -13.29 and a beta of 1.16. The firm’s 50 day moving average price is $16.79 and its 200 day moving average price is $12.92. Babcock has a twelve month low of $0.87 and a twelve month high of $22.03.

Babcock (NYSE:BW) last posted its earnings results on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The business had revenue of $214.41 million for the quarter, compared to the consensus estimate of $149.72 million. On average, sell-side analysts anticipate that Babcock will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BW shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Craig Hallum reissued a “buy” rating and issued a $19.00 price target on shares of Babcock in a research note on Tuesday, March 17th. Finally, Northland Securities set a $23.00 price objective on Babcock in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.25.

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.