Readystate Asset Management LP Makes New $1.90 Million Investment in Babcock $BW

Readystate Asset Management LP bought a new position in Babcock (NYSE:BW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 134,757 shares of the technology company’s stock, valued at approximately $1,900,000. Readystate Asset Management LP owned about 0.09% of Babcock at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BW. Royal Bank of Canada increased its position in Babcock by 57.3% during the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after purchasing an additional 650 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Babcock in the 4th quarter valued at approximately $25,000. Huntington National Bank boosted its position in Babcock by 400,000.0% in the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after buying an additional 4,000 shares in the last quarter. State of Wyoming boosted its position in Babcock by 88.7% in the fourth quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after buying an additional 4,936 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in shares of Babcock during the third quarter worth $31,000. 83.17% of the stock is currently owned by institutional investors and hedge funds.

Babcock Price Performance

Shares of BW opened at $7.12 on Tuesday. Babcock has a 1 year low of $1.97 and a 1 year high of $22.03. 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 company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -39.55 and a beta of 1.19. The business has a 50-day moving average of $9.55 and a 200-day moving average of $13.42.

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

Insider Activity at Babcock

In other news, Director Philip Moeller acquired 5,000 shares of Babcock stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $9.50 per share, with a total value of $47,500.00. Following the purchase, the director owned 240,809 shares in the company, valued at $2,287,685.50. This trade represents a 2.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

BW has been the subject of a number of research reports. Wall Street Zen cut Babcock from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Northland Securities set a $23.00 target price on Babcock in a report on Tuesday, May 12th. Needham & Company LLC started coverage on Babcock in a research report on Monday, August 31st. They issued a “buy” rating and a $20.00 target price for the company. Finally, Weiss Ratings raised Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Four 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.40.

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.