Y Intercept Hong Kong Ltd Cuts Stock Holdings in Babcock $BW

Y Intercept Hong Kong Ltd decreased its position in Babcock (NYSE:BW) by 32.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,929 shares of the technology company’s stock after selling 52,086 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.08% of Babcock worth $1,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Situational Awareness LP bought a new stake in Babcock in the 4th quarter worth about $8,584,000. UBS Group AG lifted its position in shares of Babcock by 337.1% during the 4th quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after buying an additional 1,114,593 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Babcock during the 4th quarter worth approximately $569,000. Palumbo Wealth Management LLC boosted its stake in shares of Babcock by 38.1% in the 4th quarter. Palumbo Wealth Management LLC now owns 297,681 shares of the technology company’s stock worth $1,887,000 after buying an additional 82,118 shares during the last quarter. Finally, Mangrove Partners IM LLC purchased a new position in shares of Babcock in the 4th quarter worth approximately $589,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BW shares. Northland Securities set a $23.00 price target on Babcock in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $19.00 target price on shares of Babcock in a research report on Tuesday, March 17th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.25.

Babcock Price Performance

NYSE:BW opened at $11.46 on Friday. Babcock has a 1 year low of $0.87 and a 1 year high of $22.03. The stock’s fifty day moving average price is $16.46 and its two-hundred day moving average price is $13.14. The company has a market cap of $1.71 billion, a P/E ratio of -13.02 and a beta of 1.16.

Babcock (NYSE:BW) last announced its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate 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. On average, analysts expect that Babcock will post 0.31 earnings per share for the current fiscal year.

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.