Is John Bean Technologies Corporation (JBT) A Good Stock To Buy?

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With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Adage Capital Management, managed by Phill Gross and Robert Atchinson, established the most valuable position in John Bean Technologies Corporation (NYSE:JBT). Adage Capital Management had $5.5 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $1.3 million position during the quarter. The other funds with brand new JBT positions are Mark Coe’s Coe Capital Management, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s go over hedge fund activity in other stocks similar to John Bean Technologies Corporation (NYSE:JBT). We will take a look at Innospec Inc. (NASDAQ:IOSP), Omnicell, Inc. (NASDAQ:OMCL), The Navigators Group, Inc (NASDAQ:NAVG), and Vivint Solar Inc (NYSE:VSLR). All of these stocks’ market caps are similar to JBT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IOSP 16 165109 -3
OMCL 16 44350 -2
NAVG 15 95594 2
VSLR 14 133354 5

As you can see these stocks had an average of 15.25 hedge funds with bullish positions and the average amount invested in these stocks was $110 million. That figure was $101 million in JBT’s case. Innospec Inc. (NASDAQ:IOSP) is the most popular stock in this table. On the other hand Vivint Solar Inc (NYSE:VSLR) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks John Bean Technologies Corporation (NYSE:JBT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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