Brightline Capital Management LLC Takes $2.48 Million Position in Babcock & Wilcox Enterprises, Inc. (NYSE:BW)

Brightline Capital Management LLC bought a new position in shares of Babcock & Wilcox Enterprises, Inc. (NYSE:BW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,510,000 shares of the technology company’s stock, valued at approximately $2,476,000. Babcock & Wilcox Enterprises comprises 2.0% of Brightline Capital Management LLC’s portfolio, making the stock its 12th biggest position. Brightline Capital Management LLC owned about 1.60% of Babcock & Wilcox Enterprises at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BW. Russell Investments Group Ltd. boosted its holdings in shares of Babcock & Wilcox Enterprises by 28.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,702,261 shares of the technology company’s stock valued at $2,792,000 after purchasing an additional 373,049 shares during the last quarter. Heartland Advisors Inc. lifted its position in shares of Babcock & Wilcox Enterprises by 4.5% in the fourth quarter. Heartland Advisors Inc. now owns 1,373,500 shares of the technology company’s stock worth $2,253,000 after buying an additional 58,800 shares in the last quarter. Geode Capital Management LLC boosted its stake in Babcock & Wilcox Enterprises by 2.0% during the third quarter. Geode Capital Management LLC now owns 614,043 shares of the technology company’s stock valued at $1,253,000 after buying an additional 12,159 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Babcock & Wilcox Enterprises by 561.4% during the 4th quarter. JPMorgan Chase & Co. now owns 404,821 shares of the technology company’s stock valued at $664,000 after buying an additional 343,613 shares in the last quarter. Finally, Equitec Proprietary Markets LLC boosted its position in shares of Babcock & Wilcox Enterprises by 1,449.3% during the 4th 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 during the last quarter. 83.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BW shares. StockNews.com began coverage on shares of Babcock & Wilcox Enterprises in a research note on Thursday. They set a “sell” rating on the stock. Lake Street Capital decreased their price objective on Babcock & Wilcox Enterprises from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Finally, DA Davidson cut Babcock & Wilcox Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th.

Babcock & Wilcox Enterprises Stock Performance

BW opened at $0.30 on Friday. Babcock & Wilcox Enterprises, Inc. has a one year low of $0.24 and a one year high of $2.99. The stock has a market cap of $29.23 million, a price-to-earnings ratio of -0.36 and a beta of 1.46. The stock’s 50 day moving average price is $0.92 and its 200-day moving average price is $1.59.

Babcock & Wilcox Enterprises (NYSE:BW) last released its earnings results 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 during the quarter, compared to analyst estimates of $213.07 million.

About Babcock & Wilcox Enterprises

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.