BWX Technologies Inc. (BWXT) Downgraded by Zacks Investment Research
BWX Technologies Inc. (NYSE:BWXT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “BWX Technologies, Inc. supplies precision manufactured components and services to the commercial nuclear power industry. The company offers technical, management and site services to governments in complex facilities and environmental remediation activities. It operates primarily in Lynchburg, Va., Ohio and Cambridge, Ontario. BWX Technologies, Inc., formerly known as Babcock & Wilcox Company, is headquartered in Lynchburg, Va. “
BWX Technologies (NYSE:BWXT) traded down 2.07% during trading on Tuesday, hitting $37.79. The stock had a trading volume of 510,918 shares. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 19.21 and a beta of 0.49. BWX Technologies has a 1-year low of $26.89 and a 1-year high of $39.70. The firm’s 50 day moving average is $38.80 and its 200 day moving average is $36.05.
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BWX Technologies (NYSE:BWXT) last issued its earnings results on Monday, August 8th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.06. The business had revenue of $402.38 million for the quarter, compared to analysts’ expectations of $367.04 million. BWX Technologies had a return on equity of 60.44% and a net margin of 14.07%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. On average, analysts anticipate that BWX Technologies will post $1.66 earnings per share for the current year.
In related news, SVP James D. Canafax sold 4,500 shares of BWX Technologies stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $37.74, for a total value of $169,830.00. Following the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $2,551,224. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph G. Henry sold 16,032 shares of BWX Technologies stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $39.28, for a total value of $629,736.96. Following the completion of the transaction, the insider now owns 36,425 shares in the company, valued at $1,430,774. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of BWX Technologies by 5.4% in the second quarter. Vanguard Group Inc. now owns 8,898,002 shares of the company’s stock worth $318,282,000 after buying an additional 459,867 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of BWX Technologies by 6.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,006,001 shares of the company’s stock worth $143,295,000 after buying an additional 236,228 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of BWX Technologies by 27.1% in the second quarter. Bank of New York Mellon Corp now owns 2,178,304 shares of the company’s stock worth $77,919,000 after buying an additional 465,065 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of BWX Technologies by 26.5% in the second quarter. AQR Capital Management LLC now owns 2,096,023 shares of the company’s stock worth $74,975,000 after buying an additional 439,737 shares during the last quarter. Finally, State Street Corp boosted its position in shares of BWX Technologies by 2.8% in the first quarter. State Street Corp now owns 1,607,839 shares of the company’s stock worth $53,958,000 after buying an additional 44,028 shares during the last quarter. Institutional investors and hedge funds own 94.36% of the company’s stock.
About BWX Technologies
BWX Technologies, Inc, formerly The Babcock & Wilcox Company, is a manufacturer of nuclear components and a service provider. The Company’s businesses focus on the design, engineering and manufacture of precision naval nuclear components, reactors and nuclear fuel for the United States Government. Its segments include Nuclear Operations, Technical Services, Nuclear Energy and Other.
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