Lazard Asset Management LLC Invests $1.87 Million in Babcock $BW

Lazard Asset Management LLC purchased a new position in shares of Babcock (NYSE:BW) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 127,549 shares of the technology company’s stock, valued at approximately $1,874,000.

A number of other institutional investors have also recently added to or reduced their stakes in BW. Legal & General Group Plc boosted its position in Babcock by 10.8% in the 4th quarter. Legal & General Group Plc now owns 5,380,991 shares of the technology company’s stock valued at $34,115,000 after buying an additional 523,776 shares during the last quarter. Gendell Jeffrey L increased its position in shares of Babcock by 6.2% during the fourth quarter. Gendell Jeffrey L now owns 5,046,068 shares of the technology company’s stock worth $31,992,000 after acquiring an additional 293,245 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Babcock by 54.3% in the third quarter. Vanguard Group Inc. now owns 4,423,243 shares of the technology company’s stock worth $12,827,000 after acquiring an additional 1,556,692 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Babcock by 42.4% in the fourth quarter. Marshall Wace LLP now owns 3,371,134 shares of the technology company’s stock worth $21,373,000 after acquiring an additional 1,004,533 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Babcock by 777.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,974,324 shares of the technology company’s stock valued at $43,693,000 after purchasing an additional 2,635,304 shares during the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BW shares. Northland Securities set a $23.00 price objective on Babcock in a research note on Tuesday, May 12th. Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research note on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.25.

Babcock Stock Up 2.2%

Shares of NYSE BW opened at $9.52 on Tuesday. The firm’s 50-day moving average price is $13.70 and its two-hundred day moving average price is $13.59. Babcock has a 52-week low of $0.93 and a 52-week high of $22.03. The stock has a market capitalization of $1.42 billion, a P/E ratio of -10.82 and a beta of 1.22.

Babcock (NYSE:BW) last posted its earnings results on Monday, May 11th. The technology company reported ($0.60) EPS 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. As a group, equities research analysts expect that Babcock will post 0.31 earnings per share for the current 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.