Mangrove Partners IM LLC Acquires Shares of 92,842 Babcock $BW

Mangrove Partners IM LLC acquired a new stake in Babcock (NYSE:BW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 92,842 shares of the technology company’s stock, valued at approximately $589,000. Mangrove Partners IM LLC owned approximately 0.08% of Babcock as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BW. Huntington National Bank lifted its holdings in Babcock by 400,000.0% in the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after purchasing an additional 4,000 shares in the last quarter. Centiva Capital LP purchased a new position in Babcock in the 3rd quarter valued at $31,000. Raymond James Financial Inc. lifted its holdings in Babcock by 11,311.3% in the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after purchasing an additional 11,990 shares in the last quarter. Sender Co & Partners Inc. purchased a new position in Babcock in the 3rd quarter valued at $50,000. Finally, State of Wyoming lifted its holdings in Babcock by 88.7% in the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after purchasing an additional 4,936 shares in the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Babcock Trading Up 2.3%

Shares of BW stock opened at $16.71 on Wednesday. The company’s 50-day moving average price is $17.43 and its 200-day moving average price is $12.17. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -18.98 and a beta of 1.10. Babcock has a twelve month low of $0.87 and a twelve month high of $22.03.

Babcock (NYSE:BW) last announced 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 firm had revenue of $214.41 million for the quarter, compared to analysts’ expectations of $149.72 million. As a group, equities research analysts predict that Babcock will post 0.31 EPS for the current year.

Analyst Ratings Changes

BW has been the topic of a number of research reports. Craig Hallum restated a “buy” rating and issued a $19.00 price objective on shares of Babcock in a report on Tuesday, March 17th. Northland Securities set a $23.00 price objective on Babcock in a report on Tuesday, May 12th. Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.