Bank of America Corp. Downgrades BWX Technologies Inc. (BWXT) to Neutral
BWX Technologies Inc. (NYSE:BWXT) was downgraded by Bank of America Corp. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded BWX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 16th. TheStreet downgraded BWX Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Finally, Drexel Hamilton upgraded BWX Technologies from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Wednesday, November 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $43.67.
Shares of BWX Technologies (NYSE:BWXT) opened at 39.70 on Friday. BWX Technologies has a one year low of $26.89 and a one year high of $40.66. The stock’s 50 day moving average price is $38.55 and its 200 day moving average price is $37.20. The company has a market cap of $3.94 billion, a PE ratio of 28.52 and a beta of 0.37.
BWX Technologies (NYSE:BWXT) last issued its earnings results on Monday, October 31st. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. BWX Technologies had a return on equity of 72.58% and a net margin of 9.68%. The company earned $379.50 million during the quarter, compared to the consensus estimate of $367.14 million. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts predict that BWX Technologies will post $1.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Thursday, November 17th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $0.36 annualized dividend and a yield of 0.91%. BWX Technologies’s dividend payout ratio is presently 25.71%.
In other BWX Technologies news, SVP James D. Canafax sold 4,500 shares of BWX Technologies stock in a transaction on Monday, October 17th. The stock was sold at an average price of $37.68, for a total value of $169,560.00. Following the completion of the transaction, the senior vice president now directly owns 63,100 shares of the company’s stock, valued at approximately $2,377,608. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in BWXT. Schafer Cullen Capital Management Inc. boosted its position in shares of BWX Technologies by 11.4% in the third quarter. Schafer Cullen Capital Management Inc. now owns 6,401 shares of the company’s stock valued at $246,000 after buying an additional 656 shares in the last quarter. Credit Suisse AG boosted its position in shares of BWX Technologies by 101.5% in the third quarter. Credit Suisse AG now owns 177,519 shares of the company’s stock valued at $6,811,000 after buying an additional 89,439 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of BWX Technologies by 89.2% in the third quarter. Verition Fund Management LLC now owns 22,997 shares of the company’s stock valued at $882,000 after buying an additional 10,839 shares in the last quarter. Jane Street Group LLC boosted its position in shares of BWX Technologies by 10.8% in the third quarter. Jane Street Group LLC now owns 34,347 shares of the company’s stock valued at $1,318,000 after buying an additional 3,345 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of BWX Technologies by 458.1% in the third quarter. Panagora Asset Management Inc. now owns 81,446 shares of the company’s stock valued at $3,125,000 after buying an additional 66,852 shares in the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.
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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