Wellington Management Group LLP Invests $18.26 Million in Babcock $BW

Wellington Management Group LLP 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 1,295,031 shares of the technology company’s stock, valued at approximately $18,260,000. Wellington Management Group LLP owned about 0.87% of Babcock at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BW. Situational Awareness LP bought a new position in Babcock in the fourth quarter valued at about $8,584,000. UBS Group AG raised its holdings in Babcock by 337.1% during the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after purchasing an additional 1,114,593 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Babcock in the fourth quarter valued at $569,000. Cooper Creek Partners Management LLC acquired a new position in shares of Babcock in the 1st quarter valued at about $15,205,000. Finally, Lazard Asset Management LLC acquired a new position in Babcock in the first quarter valued at approximately $1,874,000. 83.17% of the stock is currently owned by institutional investors.

Insider Activity at Babcock

In related news, Director Philip Moeller purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $9.50 per share, with a total value of $47,500.00. Following the acquisition, the director directly owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. This represents a 2.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by insiders.

Babcock Price Performance

BW stock opened at $7.12 on Monday. The firm has a 50 day moving average of $9.69 and a 200-day moving average of $13.44. The firm has a market capitalization of $1.06 billion, a P/E ratio of -39.55 and a beta of 1.19. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 4.21. Babcock has a 12 month low of $1.97 and a 12 month high of $22.03.

Babcock (NYSE:BW) last released its quarterly earnings results on Monday, August 10th. The technology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $319.69 million for the quarter, compared to analysts’ expectations of $196.95 million. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. As a group, sell-side analysts predict that Babcock will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BW shares. Wall Street Zen lowered shares of Babcock from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Northland Securities set a $23.00 price objective on Babcock in a research note on Tuesday, May 12th. Weiss Ratings raised shares of Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Needham & Company LLC assumed coverage on shares of Babcock in a report on Monday, August 31st. They issued a “buy” rating and a $20.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.