Babcock (NYSE:BW) CEO Buys $43,500.00 in Stock

Babcock (NYSE:BW) CEO Kenneth Young bought 10,000 shares of Babcock stock in a transaction on Friday, November 13th. The stock was acquired at an average price of $4.35 per share, for a total transaction of $43,500.00. Following the transaction, the chief executive officer directly owned 1,719,254 shares of the company’s stock, valued at approximately $7,478,754.90. This trade represents a 0.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Babcock Trading Down 8.7%

Shares of NYSE:BW traded down $0.42 during mid-day trading on Friday, reaching $4.43. 3,894,702 shares of the company were exchanged, compared to its average volume of 4,352,639. The firm has a market cap of $645.07 million, a price-to-earnings ratio of -9.62 and a beta of 1.24. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.79 and a quick ratio of 1.33. Babcock has a 1 year low of $3.07 and a 1 year high of $22.03. The firm’s 50-day simple moving average is $5.51 and its 200 day simple moving average is $11.22.

Babcock (NYSE:BW) last announced its quarterly earnings data on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $319.72 million during the quarter, compared to analysts’ expectations of $196.95 million. Babcock had a net margin of 4.11% and a negative return on equity of 36.52%. Equities research analysts forecast that Babcock will post 0.79 EPS for the current year.

Analyst Ratings Changes

BW has been the topic of a number of research reports. Needham & Company LLC dropped their price target on Babcock from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. Wall Street Zen cut Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Babcock in a report on Wednesday, November 4th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Babcock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Babcock News Roundup

Investors following BW have been watching these news items:

• Positive Sentiment: Major shareholder BRC Group Holdings bought 130,000 shares at an average of $4.98, a potentially supportive sign of confidence. SEC filing
• Negative Sentiment: Needham cut its price target to $15 from $20, although it maintained a Buy rating. The reduction may reinforce caution amid uncertainty about the company’s outlook.
• Negative Sentiment: Pomerantz issued an investor alert relating to a class-action lawsuit and invited investors who believe they incurred losses to contact the firm. The notice adds legal overhang but does not establish wrongdoing. Investor alert

Hedge Funds Weigh In On Babcock

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its holdings in Babcock by 777.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,974,324 shares of the technology company’s stock valued at $43,693,000 after acquiring an additional 2,635,304 shares during the last quarter. Situational Awareness LP increased its position in shares of Babcock by 49.7% during the second quarter. Situational Awareness LP now owns 2,027,451 shares of the technology company’s stock worth $28,587,000 after acquiring an additional 673,551 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Babcock during the 2nd quarter valued at approximately $18,260,000. Bank of America Corp DE increased its stake in shares of Babcock by 1,743.7% in the first quarter. Bank of America Corp DE now owns 1,096,502 shares of the technology company’s stock worth $16,108,000 after buying an additional 1,037,028 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in Babcock in the first quarter valued at $15,205,000. 83.17% of the stock is owned by institutional investors and hedge funds.

About Babcock

Babcock & Wilcox Enterprises, Inc. is an energy and environmental technology company serving power, industrial and municipal customers. Its offerings include steam-generation equipment, emissions-control systems and related engineering, construction, maintenance and aftermarket services. The company also develops technologies for renewable and waste-to-energy applications, including systems that use biomass and municipal solid waste to produce energy. Its environmental technologies help customers manage emissions and other byproducts from energy and industrial processes.