Los Angeles Capital Management LLC Cuts Stock Holdings in Babcock & Wilcox Enterprises, Inc. (NYSE:BW)

Los Angeles Capital Management LLC trimmed its position in shares of Babcock & Wilcox Enterprises, Inc. (NYSE:BW) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 722,635 shares of the technology company’s stock after selling 23,786 shares during the quarter. Los Angeles Capital Management LLC owned 0.81% of Babcock & Wilcox Enterprises worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Babcock & Wilcox Enterprises by 15.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,942 shares of the technology company’s stock worth $450,000 after purchasing an additional 14,211 shares during the period. Aigen Investment Management LP bought a new stake in shares of Babcock & Wilcox Enterprises during the 3rd quarter worth $65,000. Tower Research Capital LLC TRC raised its stake in shares of Babcock & Wilcox Enterprises by 662.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,403 shares of the technology company’s stock worth $27,000 after purchasing an additional 15,990 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Babcock & Wilcox Enterprises during the 4th quarter worth $27,000. Finally, Weiss Asset Management LP bought a new stake in shares of Babcock & Wilcox Enterprises during the 4th quarter worth $28,000. 83.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BW has been the topic of a number of recent analyst reports. DA Davidson lowered their target price on Babcock & Wilcox Enterprises from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. Lake Street Capital lowered their price objective on Babcock & Wilcox Enterprises from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Finally, StockNews.com cut Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th.

Babcock & Wilcox Enterprises Stock Performance

Shares of Babcock & Wilcox Enterprises stock opened at $1.77 on Tuesday. The stock’s 50-day simple moving average is $1.20 and its 200 day simple moving average is $1.25. Babcock & Wilcox Enterprises, Inc. has a 52-week low of $0.75 and a 52-week high of $6.58. The stock has a market capitalization of $160.63 million, a P/E ratio of -0.73 and a beta of 1.58.

Babcock & Wilcox Enterprises (NYSE:BW) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.12). The firm had revenue of $207.60 million during the quarter, compared to analysts’ expectations of $226.70 million. Equities research analysts forecast that Babcock & Wilcox Enterprises, Inc. will post 0.35 EPS for the current fiscal year.

Babcock & Wilcox Enterprises Profile

Babcock & Wilcox Enterprises, Inc, together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers worldwide. The company operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal.