Assenagon Asset Management S.A. Has $229,000 Stake in Babcock $BW

Assenagon Asset Management S.A. trimmed its stake in Babcock (NYSE:BW) by 94.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,571 shares of the technology company’s stock after selling 262,173 shares during the period. Assenagon Asset Management S.A.’s holdings in Babcock were worth $229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its position in Babcock by 93.0% during the second quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock worth $380,000 after purchasing an additional 190,814 shares during the period. Nomura Holdings Inc. lifted its stake in shares of Babcock by 58.2% in the second quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock worth $123,000 after buying an additional 46,884 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 buying an additional 1,556,692 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Babcock during the 3rd quarter worth $74,000. Finally, Legal & General Group Plc bought a new stake in shares of Babcock during the 3rd quarter worth $14,086,000. 83.17% of the stock is currently owned by institutional investors and hedge funds.

Babcock Price Performance

Shares of Babcock stock opened at $11.70 on Friday. Babcock has a fifty-two week low of $0.87 and a fifty-two week high of $22.03. The firm has a fifty day moving average price of $16.79 and a two-hundred day moving average price of $12.92. The company has a market cap of $1.74 billion, a PE ratio of -13.29 and a beta of 1.16.

Babcock (NYSE:BW) last posted its quarterly earnings data on Monday, May 11th. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The firm had revenue of $214.41 million for the quarter, compared to the consensus estimate of $149.72 million. Analysts expect that Babcock will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BW. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Monday, April 20th. Northland Securities set a $23.00 price target on shares of Babcock in a report on Tuesday, May 12th. Craig Hallum reaffirmed a “buy” rating and issued a $19.00 price target on shares of Babcock in a research report on Tuesday, March 17th. Finally, Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Babcock has an average rating of “Hold” and an average price target of $14.25.

Babcock 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.