CastleKnight Management LP Has $8.32 Million Stock Position in Babcock $BW

CastleKnight Management LP lowered its holdings in Babcock (NYSE:BW) by 49.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,312,950 shares of the technology company’s stock after selling 1,308,363 shares during the quarter. CastleKnight Management LP’s holdings in Babcock were worth $8,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BW. Legal & General Group Plc acquired a new stake in Babcock in the 3rd quarter valued at approximately $14,086,000. Marshall Wace LLP grew its holdings in Babcock by 497.7% in the 3rd quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock valued at $6,863,000 after buying an additional 1,970,656 shares during the last quarter. Vanguard Group Inc. grew its holdings in Babcock by 54.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock valued at $12,827,000 after buying an additional 1,556,692 shares during the last quarter. Situational Awareness LP acquired a new stake in Babcock in the 4th quarter valued at approximately $8,584,000. Finally, UBS Group AG grew its holdings in Babcock by 337.1% in the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock valued at $9,163,000 after buying an additional 1,114,593 shares during the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

Babcock Trading Up 2.8%

Shares of NYSE:BW opened at $17.09 on Thursday. Babcock has a 1-year low of $0.87 and a 1-year high of $22.03. The firm has a market capitalization of $2.54 billion, a PE ratio of -19.42 and a beta of 1.10. The business’s 50 day moving average is $17.44 and its 200-day moving average is $12.24.

Babcock (NYSE:BW) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $149.72 million. On average, sell-side analysts predict that Babcock will post 0.31 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Craig Hallum reaffirmed a “buy” rating and issued a $19.00 target price 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a report on Monday, April 20th. Finally, Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.25.

Babcock 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.