Lazard Asset Management LLC Makes New $1.87 Million Investment in Babcock $BW

Lazard Asset Management LLC purchased a new stake in Babcock (NYSE:BW) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 127,549 shares of the technology company’s stock, valued at approximately $1,874,000. Lazard Asset Management LLC owned about 0.09% of Babcock at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BW. Marshall Wace LLP lifted its stake in Babcock by 93.0% in the 2nd quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock valued at $380,000 after buying an additional 190,814 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of Babcock by 58.2% in the second quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock valued at $123,000 after acquiring an additional 46,884 shares in the last quarter. Vanguard Group Inc. increased its position in Babcock by 54.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after purchasing an additional 1,556,692 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Babcock in the 3rd quarter valued at about $74,000. Finally, Legal & General Group Plc acquired a new stake in shares of Babcock during the 3rd quarter worth about $14,086,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BW shares. Northland Securities set a $23.00 target price on Babcock in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.25.

Babcock Trading Up 2.2%

Shares of BW stock opened at $9.52 on Tuesday. The company’s fifty day simple moving average is $13.70 and its 200-day simple moving average is $13.59. Babcock has a 52 week low of $0.93 and a 52 week high of $22.03. The company has a market cap of $1.42 billion, a PE ratio of -10.82 and a beta of 1.22.

Babcock (NYSE:BW) last announced its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The company had revenue of $214.41 million for the quarter, compared to analysts’ expectations of $149.72 million. Equities research analysts expect that Babcock will post 0.31 EPS for the current fiscal year.

Babcock Company 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.