Investment Management of Virginia LLC Makes New Investment in Babcock & Wilcox Enterprises, Inc. (NYSE:BW)

Investment Management of Virginia LLC bought a new stake in Babcock & Wilcox Enterprises, Inc. (NYSE:BW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 103,580 shares of the technology company’s stock, valued at approximately $816,000. Investment Management of Virginia LLC owned approximately 0.12% of Babcock & Wilcox Enterprises as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in Babcock & Wilcox Enterprises in the 2nd quarter worth approximately $34,000. JPMorgan Chase & Co. boosted its stake in shares of Babcock & Wilcox Enterprises by 61.2% during the first quarter. JPMorgan Chase & Co. now owns 7,988 shares of the technology company’s stock valued at $76,000 after purchasing an additional 3,032 shares in the last quarter. Cadent Capital Advisors LLC purchased a new position in shares of Babcock & Wilcox Enterprises in the second quarter worth $102,000. Scotia Capital Inc. acquired a new stake in Babcock & Wilcox Enterprises during the first quarter valued at $105,000. Finally, Paloma Partners Management Co purchased a new position in shares of Babcock & Wilcox Enterprises in the first quarter worth about $114,000. Institutional investors own 78.09% of the company’s stock.

In other Babcock & Wilcox Enterprises news, SVP John J. Dziewisz sold 9,200 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $7.92, for a total value of $72,864.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John J. Dziewisz sold 25,000 shares of Babcock & Wilcox Enterprises stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $7.18, for a total transaction of $179,500.00. The disclosure for this sale can be found here. 35.90% of the stock is owned by corporate insiders.

Several research firms recently commented on BW. Credit Suisse Group raised their price target on shares of Babcock & Wilcox Enterprises to $6.00 and gave the company an “underperform” rating in a report on Thursday, September 9th. Zacks Investment Research raised Babcock & Wilcox Enterprises from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Wednesday, August 18th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Babcock & Wilcox Enterprises has an average rating of “Buy” and a consensus target price of $9.60.

Shares of NYSE:BW traded down $0.15 during trading on Wednesday, hitting $5.98. 5,707 shares of the company were exchanged, compared to its average volume of 1,065,962. The stock has a market capitalization of $513.21 million, a P/E ratio of 10.57 and a beta of 2.77. Babcock & Wilcox Enterprises, Inc. has a 12-month low of $2.11 and a 12-month high of $9.90. The firm’s 50 day moving average price is $7.13 and its 200-day moving average price is $7.71.

Babcock & Wilcox Enterprises (NYSE:BW) last released its quarterly earnings data on Wednesday, August 11th. The technology company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $202.90 million during the quarter, compared to the consensus estimate of $170.50 million. Babcock & Wilcox Enterprises had a net margin of 4.12% and a negative return on equity of 12.36%. As a group, analysts forecast that Babcock & Wilcox Enterprises, Inc. will post 0.16 EPS for the current fiscal year.

Babcock & Wilcox Enterprises Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

Further Reading: Commodities

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

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