Sei Investments Co. Buys 259,175 Shares of Babcock $BW

Sei Investments Co. increased its stake in shares of Babcock (NYSE:BW) by 42.2% in the first quarter, Holdings Channel reports. The firm owned 873,867 shares of the technology company’s stock after buying an additional 259,175 shares during the quarter. Sei Investments Co.’s holdings in Babcock were worth $12,837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Wyoming grew its position in shares of Babcock by 74.7% during the 1st quarter. State of Wyoming now owns 18,342 shares of the technology company’s stock worth $269,000 after buying an additional 7,843 shares during the period. Cetera Investment Advisers bought a new stake in shares of Babcock in the 1st quarter valued at about $191,000. Bank of New York Mellon Corp raised its position in shares of Babcock by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 55,733 shares of the technology company’s stock valued at $819,000 after acquiring an additional 1,604 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Babcock by 30.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 13,057 shares of the technology company’s stock valued at $208,000 after acquiring an additional 3,057 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in Babcock during the 1st quarter worth approximately $547,000. Institutional investors own 83.17% of the company’s stock.

Babcock Trading Down 1.4%

NYSE:BW opened at $9.33 on Friday. Babcock has a 1 year low of $0.90 and a 1 year high of $22.03. The stock has a 50-day moving average price of $13.89 and a two-hundred day moving average price of $13.54. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -10.61 and a beta of 1.16.

Babcock (NYSE:BW) last released its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The firm had revenue of $214.41 million during the quarter, compared to the consensus estimate of $149.72 million. Sell-side analysts forecast that Babcock will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BW. Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Northland Securities set a $23.00 target price on shares of Babcock in a report on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.