Parametric Portfolio Associates LLC Reduces Position in Babcock (NYSE:BW)

Parametric Portfolio Associates LLC lowered its stake in shares of Babcock (NYSE:BW) by 17.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 221,696 shares of the technology company’s stock after selling 48,196 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.46% of Babcock worth $2,071,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Boston Partners boosted its stake in Babcock by 49.5% in the first quarter. Boston Partners now owns 1,200,840 shares of the technology company’s stock valued at $11,216,000 after buying an additional 397,540 shares during the period. AMG National Trust Bank acquired a new stake in Babcock during the first quarter valued at $383,000. First Trust Advisors LP acquired a new stake in Babcock during the first quarter valued at $187,000. LSV Asset Management boosted its stake in Babcock by 186.3% in the first quarter. LSV Asset Management now owns 94,200 shares of the technology company’s stock valued at $879,000 after buying an additional 61,300 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Babcock by 674.8% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 912,674 shares of the technology company’s stock valued at $8,524,000 after buying an additional 794,874 shares during the period. Institutional investors own 91.97% of the company’s stock.

Shares of Babcock (BW) traded down 0.56% on Friday, hitting $10.71. The stock had a trading volume of 330,002 shares. Babcock has a 52-week low of $8.54 and a 52-week high of $17.72. The company’s market cap is $522.98 million. The company has a 50-day moving average of $11.11 and a 200-day moving average of $12.04.

Babcock (NYSE:BW) last announced its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $391.10 million during the quarter, compared to analysts’ expectations of $416.44 million. Babcock had a negative net margin of 8.51% and a negative return on equity of 12.96%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. On average, equities analysts anticipate that Babcock will post $0.77 EPS for the current fiscal year.

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Several research firms have weighed in on BW. Zacks Investment Research upgraded Babcock from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Monday, July 3rd. Sidoti dropped their price objective on Babcock from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, May 25th. Finally, BidaskClub lowered Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.80.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.

Institutional Ownership by Quarter for Babcock (NYSE:BW)

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