Balentine buys $2.6 Million stake in Babcock & Wilcox Enterprises Inc (BW)

Babcock & Wilcox Enterprises Inc (BW) : Balentine scooped up 124,852 additional shares in Babcock & Wilcox Enterprises Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 125,382 shares of Babcock & Wilcox Enterprises Inc which is valued at $2.6 Million.Babcock & Wilcox Enterprises Inc makes up approximately 0.67% of Balentine’s portfolio.

Other Hedge Funds, Including , Convector Capital Management Lp boosted its stake in BW in the latest quarter, The investment management firm added 7,000 additional shares and now holds a total of 91,142 shares of Babcock & Wilcox Enterprises Inc which is valued at $1.9 Million. Babcock & Wilcox Enterprises Inc makes up approx 2.11% of Convector Capital Management Lp’s portfolio. Nine Chapters Capital Management sold out all of its stake in BW during the most recent quarter. The investment firm sold 13,050 shares of BW which is valued $273,920. Winfield Associates added BW to its portfolio by purchasing 80 company shares during the most recent quarter which is valued at $1,828.

Babcock & Wilcox Enterprises Inc opened for trading at $21.1 and hit $21.75 on the upside on Monday, eventually ending the session at $21.73, with a gain of 3.53% or 0.74 points. The heightened volatility saw the trading volume jump to 4,70,644 shares. Company has a market cap of $1,101 M.

On the company’s financial health, Babcock & Wilcox Enterprises Inc reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.21. The company had revenue of $404.10 million for the quarter, compared to analysts expectations of $402.60 million. The company’s revenue was up 1.7% compared to the same quarter last year.

Babcock & Wilcox Enterprises Inc. is engaged in engineering manufacturing procurement and erection of equipment and technology which is used in the power generation industry and other industries. The Company is a technology-based provider of fossil and renewable power generation equipment which includes boiler products and environmental systems and services for power and industrial uses. It operates through three segments including Global Power which consists of boiler and environmental products businesses that serves large steam generating and industrial customers; Global Services which provides a mix of products and services to support availability of steam generating and associated environmental and auxiliary equipment that serve steam generating utility and industrial customers and Industrial Environmental which represents its environmental products and services business which serves industrial end markets such as chemical and pharmaceutical among others.

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