Dimensional Fund Advisors LP grew its stake in Babcock (NYSE:BW) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,244,099 shares of the technology company’s stock after purchasing an additional 209,171 shares during the period. Dimensional Fund Advisors LP owned about 4.60% of Babcock worth $26,391,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its stake in shares of Babcock by 61.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 456,960 shares of the technology company’s stock worth $5,374,000 after buying an additional 174,709 shares during the period. Victory Capital Management Inc. raised its stake in Babcock by 77.4% in the 2nd quarter. Victory Capital Management Inc. now owns 118,500 shares of the technology company’s stock valued at $1,394,000 after purchasing an additional 51,700 shares during the last quarter. Nationwide Fund Advisors raised its stake in Babcock by 122.6% in the 2nd quarter. Nationwide Fund Advisors now owns 81,861 shares of the technology company’s stock valued at $963,000 after purchasing an additional 45,094 shares during the last quarter. California Public Employees Retirement System raised its stake in Babcock by 467.1% in the 2nd quarter. California Public Employees Retirement System now owns 838,100 shares of the technology company’s stock valued at $9,856,000 after purchasing an additional 690,300 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Babcock by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,232,623 shares of the technology company’s stock valued at $49,776,000 after purchasing an additional 312,969 shares during the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.
Babcock (BW) opened at $4.35 on Tuesday. Babcock has a 1-year low of $1.61 and a 1-year high of $17.72. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 0.67.
Babcock (NYSE:BW) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.25). The company had revenue of $408.70 million during the quarter, compared to analyst estimates of $413.41 million. Babcock had a negative return on equity of 50.88% and a negative net margin of 22.48%. The business’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. research analysts predict that Babcock will post -3.07 earnings per share for the current fiscal year.
A number of equities analysts recently commented on BW shares. Credit Suisse Group lowered their target price on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a report on Friday, August 11th. BidaskClub cut Babcock from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. UBS AG lowered Babcock from a “buy” rating to a “neutral” rating and reduced their price target for the company from $13.00 to $3.00 in a research report on Monday, August 14th. KeyCorp reaffirmed a “hold” rating on shares of Babcock in a research report on Friday, September 22nd. Finally, Zacks Investment Research lowered Babcock from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.18.
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In other news, major shareholder Vintage Capital Management Llc purchased 1,686,945 shares of the stock in a transaction on Thursday, September 14th. The stock was purchased at an average price of $3.10 per share, with a total value of $5,229,529.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.
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.
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