Babcock (NYSE:BW) Major Shareholder Brc Group Holdings, Inc. Sells 1,155,382 Shares

Babcock (NYSE:BW) major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total value of $10,398,438.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Babcock Stock Up 1.2%

Shares of NYSE:BW traded up $0.12 during trading on Friday, reaching $9.74. 1,892,955 shares of the company traded hands, compared to its average volume of 3,306,402. The firm has a market capitalization of $1.08 billion, a PE ratio of -7.49 and a beta of 1.55. Babcock has a 52 week low of $0.22 and a 52 week high of $11.57. The company’s 50 day moving average is $7.51 and its two-hundred day moving average is $4.82.

Analyst Ratings Changes

BW has been the topic of several recent research reports. Craig Hallum upgraded Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Wednesday, November 5th. Zacks Research raised Babcock to a “hold” rating in a report on Friday, January 23rd. Lake Street Capital reiterated a “buy” rating and set a $9.00 price objective on shares of Babcock in a research report on Wednesday, November 5th. DA Davidson raised their target price on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Northland Securities began coverage on Babcock in a research note on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Babcock currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Institutional Investors Weigh In On Babcock

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in Babcock during the third quarter worth about $14,086,000. Marshall Wace LLP increased its position in Babcock by 497.7% during the third quarter. Marshall Wace LLP now owns 2,366,601 shares of the technology company’s stock worth $6,863,000 after acquiring an additional 1,970,656 shares during the period. Vanguard Group Inc. increased its stake in shares of Babcock by 54.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock valued at $12,827,000 after purchasing an additional 1,556,692 shares during the last quarter. Thames Capital Management LLC bought a new position in Babcock during the 3rd quarter worth approximately $4,033,000. Finally, Situational Awareness LP acquired a new stake in shares of Babcock in the 4th quarter valued at about $8,584,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

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.