Equitec Proprietary Markets LLC Acquires New Stake in Babcock $BW

Equitec Proprietary Markets LLC acquired a new stake in Babcock (NYSE:BW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 697,221 shares of the technology company’s stock, valued at approximately $9,831,000. Babcock accounts for 1.8% of Equitec Proprietary Markets LLC’s investment portfolio, making the stock its 4th largest position.

Several other large investors have also bought and sold shares of the stock. Situational Awareness LP acquired a new stake in shares of Babcock in the fourth quarter valued at about $8,584,000. UBS Group AG lifted its stake in shares of Babcock by 337.1% in the fourth quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after acquiring an additional 1,114,593 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Babcock in the fourth quarter worth approximately $569,000. Cooper Creek Partners Management LLC bought a new stake in Babcock in the first quarter valued at approximately $15,205,000. Finally, Lazard Asset Management LLC acquired a new stake in Babcock during the 1st quarter valued at approximately $1,874,000. 83.17% of the stock is owned by institutional investors.

Babcock Stock Down 7.0%

Shares of NYSE:BW opened at $7.14 on Friday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -39.66 and a beta of 1.21. The company has a debt-to-equity ratio of 4.21, a current ratio of 1.45 and a quick ratio of 1.33. The business’s 50-day moving average is $10.52 and its 200-day moving average is $13.50. Babcock has a 1 year low of $1.97 and a 1 year high of $22.03.

Babcock (NYSE:BW) last released its earnings results on Monday, August 10th. The technology company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%.The business had revenue of $319.69 million during the quarter, compared to analysts’ expectations of $196.95 million. Equities research analysts predict that Babcock will post 0.27 earnings per share for the current year.

Insider Activity

In other Babcock news, Director Philip D. Moeller purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $9.50 per share, for a total transaction of $47,500.00. Following the acquisition, the director owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. This represents a 2.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BW. Northland Securities set a $23.00 price target on shares of Babcock in a report on Tuesday, May 12th. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently 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.