Legal & General Group Plc cut its stake in Babcock (NYSE:BW) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 15,860 shares of the technology company’s stock after selling 198 shares during the period. Legal & General Group Plc’s holdings in Babcock were worth $148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virginia Retirement Systems ET AL boosted its position in Babcock by 0.6% in the first quarter. Virginia Retirement Systems ET AL now owns 83,200 shares of the technology company’s stock valued at $777,000 after buying an additional 500 shares during the period. Victory Capital Management Inc. boosted its position in Babcock by 2.3% in the first quarter. Victory Capital Management Inc. now owns 66,800 shares of the technology company’s stock valued at $624,000 after buying an additional 1,525 shares during the period. American International Group Inc. boosted its position in Babcock by 7.1% in the first quarter. American International Group Inc. now owns 28,154 shares of the technology company’s stock valued at $263,000 after buying an additional 1,859 shares during the period. US Bancorp DE boosted its position in Babcock by 77.2% in the first quarter. US Bancorp DE now owns 11,671 shares of the technology company’s stock valued at $109,000 after buying an additional 5,083 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Babcock by 60.2% in the first quarter. UBS Asset Management Americas Inc. now owns 18,098 shares of the technology company’s stock valued at $169,000 after buying an additional 6,800 shares during the period. 92.85% of the stock is currently owned by institutional investors and hedge funds.

Babcock (BW) traded down 5.58% on Wednesday, reaching $2.54. 807,874 shares of the company traded hands. Babcock has a 52-week low of $2.53 and a 52-week high of $17.72. The stock has a 50-day moving average of $9.85 and a 200 day moving average of $11.00. The company’s market capitalization is $124.03 million.

Babcock (NYSE:BW) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $2.68. Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The business had revenue of $349.80 million during the quarter, compared to analysts’ expectations of $434.34 million. During the same period last year, the company posted ($0.20) EPS. Babcock’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, equities analysts forecast that Babcock will post ($1.80) EPS for the current year.

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Several research firms recently weighed in on BW. Zacks Investment Research cut shares of Babcock from a “hold” rating to a “strong sell” rating in a research report on Monday. UBS AG cut shares of Babcock from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.00 to $3.00 in a research report on Monday. Credit Suisse Group dropped their price objective on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research report on Friday, August 11th. BidaskClub cut shares of Babcock from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Finally, Sidoti dropped their price objective on shares of Babcock from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.14.

About Babcock

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: Power, Renewable and Industrial.

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Institutional Ownership by Quarter for Babcock (NYSE:BW)

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