Prudential Financial Inc. Raises Stake in Babcock & Wilcox Enterprises Inc. (BW)

Prudential Financial Inc. increased its stake in Babcock & Wilcox Enterprises Inc. (NYSE:BW) by 104.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 311,246 shares of the company’s stock after buying an additional 159,312 shares during the period. Prudential Financial Inc. owned 0.61% of Babcock & Wilcox Enterprises worth $4,572,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aperio Group LLC boosted its stake in Babcock & Wilcox Enterprises by 12.4% in the first quarter. Aperio Group LLC now owns 13,548 shares of the company’s stock worth $290,000 after buying an additional 1,498 shares during the period. Springbank Value Partners LP raised its position in Babcock & Wilcox Enterprises by 17.1% in the second quarter. Springbank Value Partners LP now owns 13,700 shares of the company’s stock worth $201,000 after buying an additional 2,000 shares in the last quarter. Royal Bank of Canada raised its position in Babcock & Wilcox Enterprises by 25.6% in the first quarter. Royal Bank of Canada now owns 10,118 shares of the company’s stock worth $216,000 after buying an additional 2,063 shares in the last quarter. HBK Investments L P raised its position in Babcock & Wilcox Enterprises by 10.0% in the first quarter. HBK Investments L P now owns 35,517 shares of the company’s stock worth $760,000 after buying an additional 3,217 shares in the last quarter. Finally, Value Holdings LP raised its position in Babcock & Wilcox Enterprises by 14.5% in the second quarter. Value Holdings LP now owns 35,837 shares of the company’s stock worth $526,000 after buying an additional 4,537 shares in the last quarter. Institutional investors and hedge funds own 98.19% of the company’s stock.

Institutional Ownership by Quarter for Babcock & Wilcox Enterprises (NYSE:BW)

Babcock & Wilcox Enterprises Inc. (NYSE:BW) opened at 15.49 on Friday. The company’s 50-day moving average is $16.44 and its 200-day moving average is $18.55. Babcock & Wilcox Enterprises Inc. has a 12 month low of $14.27 and a 12 month high of $23.99. The company’s market cap is $774.22 million.

Babcock & Wilcox Enterprises (NYSE:BW) last posted its earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.05. Babcock & Wilcox Enterprises had a positive return on equity of 5.87% and a negative net margin of 3.04%. The business had revenue of $383.20 million for the quarter, compared to the consensus estimate of $432.54 million. During the same period in the previous year, the company posted $0.27 earnings per share. Babcock & Wilcox Enterprises’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that Babcock & Wilcox Enterprises Inc. will post $0.73 earnings per share for the current year.

A number of equities analysts have recently commented on the stock. Credit Suisse Group AG lowered shares of Babcock & Wilcox Enterprises from a “neutral” rating to an “underperform” rating and set a $16.00 price target on the stock. in a research report on Thursday. Zacks Investment Research lowered shares of Babcock & Wilcox Enterprises from a “buy” rating to a “sell” rating in a research report on Tuesday, October 11th. Finally, KeyCorp reissued an “outperform” rating and issued a $22.00 price target on shares of Babcock & Wilcox Enterprises in a research report on Wednesday, August 24th.

In other news, insider Jenny L. Apker purchased 12,000 shares of Babcock & Wilcox Enterprises stock in a transaction on Monday, August 15th. The stock was purchased at an average price of $16.58 per share, with a total value of $198,960.00. Following the transaction, the insider now directly owns 25,227 shares in the company, valued at approximately $418,263.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas A. Christopher purchased 2,466 shares of Babcock & Wilcox Enterprises stock in a transaction on Friday, August 12th. The shares were purchased at an average cost of $16.20 per share, with a total value of $39,949.20. Following the transaction, the director now owns 4,426 shares in the company, valued at $71,701.20. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

About Babcock & Wilcox Enterprises

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: Global Power, Global Services and Industrial Environmental.

5 Day Chart for NYSE:BW

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