Palumbo Wealth Management LLC Purchases 82,118 Shares of Babcock $BW

Palumbo Wealth Management LLC lifted its position in shares of Babcock (NYSE:BW) by 38.1% during the fourth quarter, HoldingsChannel reports. The firm owned 297,681 shares of the technology company’s stock after buying an additional 82,118 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Babcock were worth $1,887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centiva Capital LP bought a new position in shares of Babcock during the third quarter worth $31,000. Raymond James Financial Inc. boosted its position in shares of Babcock by 11,311.3% during the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after purchasing an additional 11,990 shares in the last quarter. Sender Co & Partners Inc. bought a new position in shares of Babcock during the third quarter worth $50,000. Platform Technology Partners bought a new position in shares of Babcock during the third quarter worth $54,000. Finally, Kathmere Capital Management LLC bought a new position in shares of Babcock during the third quarter worth $58,000. 83.17% of the stock is owned by institutional investors.

Babcock Trading Up 0.9%

BW opened at $16.91 on Wednesday. The stock has a market capitalization of $2.29 billion, a P/E ratio of -31.31 and a beta of 1.09. Babcock has a 12 month low of $0.22 and a 12 month high of $17.59. The firm’s fifty day simple moving average is $11.88 and its 200 day simple moving average is $7.71.

Babcock (NYSE:BW) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $161.00 million for the quarter, compared to analyst estimates of $179.10 million.

Insider Buying and Selling at Babcock

In related news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kenneth M. Young purchased 7,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was acquired at an average price of $15.14 per share, for a total transaction of $105,980.00. Following the completion of the purchase, the chief executive officer directly owned 1,656,512 shares in the company, valued at approximately $25,079,591.68. The trade was a 0.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BW shares. Wall Street Zen raised shares of Babcock from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, January 21st. Craig Hallum reissued a “buy” rating and set a $19.00 price target on shares of Babcock in a research report on Tuesday, March 17th. Zacks Research raised shares of Babcock to a “hold” rating in a research report on Friday, January 23rd. Finally, Northland Securities started coverage on shares of Babcock in a research report on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.00.

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.