Kestra Advisory Services LLC Lowers Position in Babcock $BW

Kestra Advisory Services LLC trimmed its holdings in shares of Babcock (NYSE:BW) by 48.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,750 shares of the technology company’s stock after selling 70,100 shares during the quarter. Kestra Advisory Services LLC owned about 0.05% of Babcock worth $1,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in shares of Babcock during the 3rd quarter valued at about $14,086,000. Marshall Wace LLP grew its holdings in shares of 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 purchasing an additional 1,970,656 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Babcock by 54.3% in the third 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 during the last quarter. Situational Awareness LP purchased a new stake in Babcock in the fourth quarter valued at approximately $8,584,000. Finally, UBS Group AG raised its stake in Babcock by 337.1% in the fourth quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock valued at $9,163,000 after purchasing an additional 1,114,593 shares in the last quarter. 83.17% of the stock is currently owned by institutional investors.

Babcock Price Performance

Shares of BW opened at $11.03 on Friday. The firm has a market cap of $1.64 billion, a P/E ratio of -12.53 and a beta of 1.16. The stock has a 50 day simple moving average of $15.21 and a two-hundred day simple moving average of $13.50. Babcock has a 1 year low of $0.87 and a 1 year high of $22.03.

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

Analyst Ratings Changes

BW has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Friday, July 17th. Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Northland Securities set a $23.00 price objective on shares of Babcock in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.