BWX Technologies, Inc. (BWXT) Declares $0.11 Quarterly Dividend
BWX Technologies, Inc. (NYSE:BWXT) announced a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Stockholders of record on Monday, August 21st will be given a dividend of 0.11 per share by the technology company on Friday, September 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, August 17th.
BWX Technologies has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect BWX Technologies to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.1%.
Shares of BWX Technologies (NYSE BWXT) opened at 53.87 on Wednesday. BWX Technologies has a 12-month low of $36.16 and a 12-month high of $54.53. The stock’s 50 day moving average price is $51.28 and its 200-day moving average price is $48.04. The firm has a market cap of $5.35 billion, a P/E ratio of 28.47 and a beta of 0.45.
BWX Technologies (NYSE:BWXT) last issued its earnings results on Monday, August 7th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. BWX Technologies had a return on equity of 107.13% and a net margin of 11.81%. The business had revenue of $410.01 million during the quarter, compared to the consensus estimate of $429.38 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that BWX Technologies will post $2.02 earnings per share for the current fiscal year.
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Several brokerages have commented on BWXT. Sidoti restated a “buy” rating and issued a $62.00 target price on shares of BWX Technologies in a research note on Wednesday, May 31st. Bank of America Corporation restated a “buy” rating and issued a $55.00 target price on shares of BWX Technologies in a research note on Thursday, August 10th. BidaskClub downgraded BWX Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded BWX Technologies from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Thursday, August 10th. Finally, Credit Suisse Group began coverage on BWX Technologies in a research note on Friday, June 9th. They issued a “neutral” rating and a $51.00 target price for the company. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. BWX Technologies currently has an average rating of “Buy” and a consensus price target of $52.83.
In related news, insider Joseph G. Henry sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $53.81, for a total transaction of $807,150.00. Following the transaction, the insider now directly owns 10,639 shares of the company’s stock, valued at approximately $572,484.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Harbour Group L.P. Blue sold 3,295,098 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $47.43, for a total value of $156,286,498.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,311,463 shares of company stock worth $157,167,536. 0.76% of the stock is currently owned by insiders.
About BWX Technologies
BWX Technologies, Inc 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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