Babcock (NYSE:BW) Major Shareholder Brc Group Holdings, Inc. Sells 1,155,382 Shares of Stock

Babcock (NYSE:BW) major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total value of $10,398,438.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Babcock Stock Up 1.2%

Shares of BW stock opened at $9.74 on Friday. Babcock has a twelve month low of $0.22 and a twelve month high of $11.57. The stock’s fifty day simple moving average is $7.59 and its 200 day simple moving average is $4.88. The firm has a market capitalization of $1.08 billion, a P/E ratio of -7.49 and a beta of 1.55.

Hedge Funds Weigh In On Babcock

A number of hedge funds have recently bought and sold shares of the company. Citizens Financial Group Inc. RI purchased a new stake in shares of Babcock during the 3rd quarter valued at $1,160,000. Thames Capital Management LLC bought a new position in Babcock during the third quarter valued at about $4,033,000. AMH Equity Ltd purchased a new stake in Babcock during the third quarter worth about $2,042,000. Gendell Jeffrey L raised its position in Babcock by 49.2% in the second quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock worth $2,477,000 after acquiring an additional 849,602 shares during the period. Finally, Covestor Ltd purchased a new position in Babcock in the third quarter valued at about $406,000. Institutional investors own 83.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BW shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Wednesday, January 21st. DA Davidson upped their price target on shares of Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Lake Street Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of Babcock in a research note on Wednesday, November 5th. Northland Securities began coverage on shares of Babcock in a report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price target on the stock. Finally, Craig Hallum upgraded Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.00.

About Babcock

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.