Bank of New York Mellon Corp Has $2.68 Million Holdings in Babcock (BW)

Bank of New York Mellon Corp lowered its position in Babcock (NYSE:BW) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 227,436 shares of the technology company’s stock after selling 140 shares during the quarter. Bank of New York Mellon Corp owned about 0.47% of Babcock worth $2,675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Rhumbline Advisers increased its stake in shares of Babcock by 4.5% in the second quarter. Rhumbline Advisers now owns 60,418 shares of the technology company’s stock valued at $711,000 after purchasing an additional 2,614 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Babcock by 61.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 456,960 shares of the technology company’s stock valued at $5,374,000 after purchasing an additional 174,709 shares during the period. Sei Investments Co. increased its stake in shares of Babcock by 34.1% in the second quarter. Sei Investments Co. now owns 11,570 shares of the technology company’s stock valued at $136,000 after purchasing an additional 2,940 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Babcock by 34.9% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,231,004 shares of the technology company’s stock valued at $14,477,000 after purchasing an additional 318,330 shares during the period. Finally, US Bancorp DE increased its stake in shares of Babcock by 31.3% in the second quarter. US Bancorp DE now owns 15,327 shares of the technology company’s stock valued at $180,000 after purchasing an additional 3,656 shares during the period. Institutional investors own 93.92% of the company’s stock.

In other Babcock news, major shareholder Vintage Capital Management Llc purchased 1,686,945 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $3.10 per share, with a total value of $5,229,529.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.50% of the company’s stock.

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Babcock (NYSE:BW) opened at 3.95 on Thursday. Babcock has a 1-year low of $1.61 and a 1-year high of $17.72. The firm’s market cap is $193.08 million. The company’s 50 day moving average is $3.47 and its 200-day moving average is $3.47.

Babcock (NYSE:BW) last announced its earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($2.68). Babcock had a negative return on equity of 35.95% and a negative net margin of 14.41%. The company had revenue of $349.80 million during the quarter, compared to the consensus estimate of $434.34 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. On average, analysts predict that Babcock will post ($2.55) EPS for the current fiscal year.

A number of research firms recently commented on BW. KeyCorp reiterated a “hold” rating on shares of Babcock in a research note on Friday, September 22nd. Zacks Investment Research lowered shares of Babcock from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Credit Suisse Group lowered their price objective on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating on the stock in a research note on Friday, August 11th. Finally, UBS AG lowered shares of Babcock from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $3.00 in a research note on Monday, August 14th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $7.18.

Babcock Company Profile

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.

Institutional Ownership by Quarter for Babcock (NYSE:BW)

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