In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Babcock & Wilcox Enterprises Inc. (NYSE:BW) reported that Wells Fargo & Company/mn has picked up 1,822,650 of common stock as of 2017-04-10.
The acquisition brings the aggregate amount owned by Wells Fargo & Company/mn to a total of 1,822,650 representing a 3.73% stake in the company.
For those not familiar with the company, Babcock & Wilcox Enterprises, Inc. is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial. Through its Power segment, the Company provides the supply of and aftermarket services for steam-generating, environmental, and auxiliary equipment for power generation and other industrial applications. The Renewable segment provides steam-generating systems, environmental and auxiliary equipment for the waste-to-energy and biomass power generation industries, and plant operations and maintenance services for its systems and equipment. The Industrial segment focuses on custom-engineered cooling, environmental, noise abatement and industrial equipment along with related aftermarket services.
A glance at Babcock & Wilcox Enterprises Inc. (NYSE:BW)’s key stats reveals a current market capitalization of 459.04 Million based on 48.83 Million shares outstanding and a price at last close of $9.38 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-09, Ferland picked up 20,000 at a purchase price of $9.62. This brings their total holding to 240,040 as of the date of the filing.
On the sell side, the most recent transaction saw Blue unload 70,000 shares at a sale price of $21.62. This brings their total holding to 5,115,542.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Babcock & Wilcox Enterprises Inc. (NYSE:BW) as things move forward to see if its progress aligns with these transactions.
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