Global Retirement Partners LLC Raises Stake in Babcock $BW

Global Retirement Partners LLC boosted its position in Babcock (NYSE:BW) by 1,085.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 291,597 shares of the technology company’s stock after purchasing an additional 266,997 shares during the period. Global Retirement Partners LLC’s holdings in Babcock were worth $1,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Centiva Capital LP purchased a new stake in Babcock in the third quarter valued at approximately $31,000. Raymond James Financial Inc. boosted its position in Babcock by 11,311.3% in the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after buying an additional 11,990 shares during the last quarter. Sender Co & Partners Inc. purchased a new stake in Babcock in the third quarter valued at approximately $50,000. Qube Research & Technologies Ltd purchased a new stake in Babcock in the third quarter valued at approximately $69,000. Finally, Bank of America Corp DE boosted its position in Babcock by 3,605.8% in the third quarter. Bank of America Corp DE now owns 25,496 shares of the technology company’s stock valued at $74,000 after buying an additional 24,808 shares during the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Babcock Trading Down 7.3%

Babcock stock opened at $19.05 on Friday. Babcock has a 12 month low of $0.62 and a 12 month high of $22.03. The stock’s 50 day simple moving average is $16.41 and its two-hundred day simple moving average is $10.77. The firm has a market cap of $2.83 billion, a PE ratio of -21.65 and a beta of 1.08.

Babcock (NYSE:BW) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $149.72 million. On average, equities research analysts forecast that Babcock will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kenneth M. Young acquired 7,000 shares of the stock in a transaction on Wednesday, March 18th. The shares were acquired at an average price of $15.14 per share, for a total transaction of $105,980.00. Following the transaction, the chief executive officer owned 1,656,512 shares in the company, valued at approximately $25,079,591.68. This trade represents a 0.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

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