Y Intercept Hong Kong Ltd Trims Stock Position in Babcock $BW

Y Intercept Hong Kong Ltd lessened its position in shares of Babcock (NYSE:BW) by 32.8% during the first quarter, HoldingsChannel.com reports. The fund owned 106,929 shares of the technology company’s stock after selling 52,086 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Babcock were worth $1,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BW. Huntington National Bank grew its position in shares of Babcock by 400,000.0% during the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after purchasing an additional 4,000 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Babcock in the fourth quarter worth $25,000. Centiva Capital LP purchased a new stake in shares of Babcock in the third quarter worth $31,000. Raymond James Financial Inc. grew its position in Babcock by 11,311.3% during the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after buying an additional 11,990 shares in the last quarter. Finally, Sender Co & Partners Inc. purchased a new position in Babcock during the third quarter worth about $50,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BW has been the topic of several recent analyst reports. Wall Street Zen cut Babcock from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Craig Hallum restated a “buy” rating and issued a $19.00 price objective on shares of Babcock in a research report on Tuesday, March 17th. Northland Securities set a $23.00 target price on shares of Babcock in a research note on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.25.

Babcock Stock Performance

Shares of BW stock opened at $11.46 on Friday. Babcock has a fifty-two week low of $0.87 and a fifty-two week high of $22.03. The stock has a 50 day moving average price of $16.46 and a two-hundred day moving average price of $13.14. The company has a market capitalization of $1.71 billion, a P/E ratio of -13.02 and a beta of 1.16.

Babcock (NYSE:BW) last issued its earnings results 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 analysts’ expectations of $149.72 million. As a group, equities analysts predict that Babcock will post 0.31 earnings per share for the current year.

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.