BlackRock Inc. lifted its position in BWX Technologies Inc (NYSE:BWXT) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,959,698 shares of the technology company’s stock after buying an additional 162,958 shares during the quarter. BlackRock Inc. owned approximately 5.98% of BWX Technologies worth $371,407,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Chartwell Investment Partners LLC grew its holdings in shares of BWX Technologies by 13.9% in the second quarter. Chartwell Investment Partners LLC now owns 50,995 shares of the technology company’s stock worth $3,178,000 after purchasing an additional 6,213 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of BWX Technologies by 8.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 24,400 shares of the technology company’s stock worth $1,521,000 after purchasing an additional 2,000 shares during the last quarter. Carillon Tower Advisers Inc. increased its holdings in BWX Technologies by 39.3% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 321,900 shares of the technology company’s stock worth $20,061,000 after buying an additional 90,875 shares in the last quarter. GSA Capital Partners LLP bought a new stake in BWX Technologies in the 2nd quarter worth about $267,000. Finally, Swiss National Bank increased its holdings in BWX Technologies by 11.4% in the 2nd quarter. Swiss National Bank now owns 173,400 shares of the technology company’s stock worth $10,806,000 after buying an additional 17,700 shares in the last quarter. 95.29% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on BWXT. Credit Suisse Group reduced their price objective on BWX Technologies from $72.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, May 22nd. Bank of America downgraded BWX Technologies from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research note on Thursday, May 24th. They noted that the move was a valuation call. ValuEngine downgraded BWX Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. SunTrust Banks cut their price target on BWX Technologies from $83.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, August 21st. Finally, Zacks Investment Research upgraded BWX Technologies from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, July 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. BWX Technologies presently has an average rating of “Hold” and an average price target of $70.00.
BWX Technologies stock opened at $62.20 on Friday. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 2.16 and a beta of 0.48. BWX Technologies Inc has a 52-week low of $53.11 and a 52-week high of $72.18. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 1.72.
BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Monday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.02). The firm had revenue of $438.92 million for the quarter, compared to the consensus estimate of $445.70 million. BWX Technologies had a net margin of 9.05% and a return on equity of 66.19%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 earnings per share. sell-side analysts expect that BWX Technologies Inc will post 2.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Monday, August 20th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, August 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.03%. BWX Technologies’s dividend payout ratio is currently 31.22%.
In related news, VP Jason S. Kerr sold 1,365 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $64.06, for a total transaction of $87,441.90. Following the completion of the transaction, the vice president now directly owns 9,132 shares in the company, valued at approximately $584,995.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David S. Black sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $62.40, for a total value of $62,400.00. Following the transaction, the chief financial officer now owns 70,570 shares of the company’s stock, valued at $4,403,568. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,365 shares of company stock valued at $275,182. Corporate insiders own 0.76% of the company’s stock.
About BWX Technologies
BWX Technologies, Inc manufactures and sells nuclear components to the United States government. The company operates in three segments: Nuclear Operations, Technical Services, and Nuclear Energy. The Nuclear Operations segment offers precision naval nuclear components and reactors; close-tolerance and equipment for nuclear applications; and components for defense applications, as well as critical nuclear components, fuels, and assemblies for government and other uses.
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