Raymond James Financial Inc. Acquires New Holdings in Babcock & Wilcox Enterprises, Inc. (NYSE:BW)

Raymond James Financial Inc. bought a new stake in shares of Babcock & Wilcox Enterprises, Inc. (NYSE:BW) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 27,807 shares of the technology company’s stock, valued at approximately $46,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BW. Equitec Proprietary Markets LLC grew its stake in Babcock & Wilcox Enterprises by 1,449.3% during the fourth quarter. Equitec Proprietary Markets LLC now owns 255,100 shares of the technology company’s stock valued at $418,000 after acquiring an additional 238,635 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Babcock & Wilcox Enterprises by 561.4% in the 4th quarter. JPMorgan Chase & Co. now owns 404,821 shares of the technology company’s stock worth $664,000 after acquiring an additional 343,613 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of Babcock & Wilcox Enterprises in the 4th quarter worth about $84,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Babcock & Wilcox Enterprises during the 4th quarter valued at about $136,000. Finally, Barclays PLC lifted its holdings in Babcock & Wilcox Enterprises by 31,891.1% during the 3rd quarter. Barclays PLC now owns 32,311 shares of the technology company’s stock valued at $66,000 after buying an additional 32,210 shares in the last quarter. 83.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BW has been the subject of several recent research reports. Lake Street Capital reduced their price target on shares of Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. DA Davidson downgraded shares of Babcock & Wilcox Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Finally, StockNews.com began coverage on shares of Babcock & Wilcox Enterprises in a report on Monday. They issued a “sell” rating on the stock.

Babcock & Wilcox Enterprises Stock Performance

Shares of NYSE BW opened at $0.83 on Thursday. The company’s fifty day moving average price is $0.57 and its 200 day moving average price is $1.29. Babcock & Wilcox Enterprises, Inc. has a 1 year low of $0.22 and a 1 year high of $2.99. The company has a market capitalization of $81.44 million, a PE ratio of -1.00 and a beta of 1.76.

Babcock & Wilcox Enterprises (NYSE:BW) last posted its quarterly earnings data on Monday, March 31st. The technology company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The business had revenue of $200.80 million for the quarter, compared to the consensus estimate of $213.07 million.

Babcock & Wilcox Enterprises Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.