BWX Technologies, Inc. (BWXT) Cut to Hold at BidaskClub
BidaskClub downgraded shares of BWX Technologies, Inc. (NYSE:BWXT) from a buy rating to a hold rating in a research note released on Friday.
Other equities analysts have also recently issued reports about the stock. Sidoti reiterated a buy rating and set a $62.00 price objective on shares of BWX Technologies in a research report on Wednesday, May 31st. ValuEngine upgraded shares of BWX Technologies from a hold rating to a buy rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of BWX Technologies from a hold rating to a buy rating and set a $60.00 price objective for the company in a research report on Thursday, August 10th. Bank of America Corporation reiterated a buy rating and set a $55.00 price objective on shares of BWX Technologies in a research report on Thursday, August 10th. Finally, Credit Suisse Group started coverage on shares of BWX Technologies in a research report on Friday, June 9th. They set a neutral rating and a $51.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $52.83.
Shares of BWX Technologies (NYSE BWXT) opened at 54.20 on Friday. BWX Technologies has a 1-year low of $36.16 and a 1-year high of $54.83. The stock’s 50 day moving average is $53.68 and its 200 day moving average is $49.89. The company has a market capitalization of $5.38 billion, a PE ratio of 28.65 and a beta of 0.46.
BWX Technologies (NYSE:BWXT) last released its quarterly earnings data on Monday, August 7th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. The business had revenue of $410.01 million during the quarter, compared to analysts’ expectations of $429.38 million. BWX Technologies had a net margin of 11.81% and a return on equity of 107.13%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. On average, equities research analysts anticipate that BWX Technologies will post $2.03 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 21st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Thursday, August 17th. BWX Technologies’s dividend payout ratio is 23.28%.
In other BWX Technologies news, insider Harbour Group L.P. Blue sold 1,992,829 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.20, for a total transaction of $106,018,502.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jason S. Kerr sold 1,365 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $54.13, for a total transaction of $73,887.45. Following the sale, the vice president now directly owns 4,312 shares in the company, valued at $233,408.56. The disclosure for this sale can be found here. Insiders have sold a total of 2,009,194 shares of company stock worth $106,899,540 over the last three months. Insiders own 0.76% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in BWX Technologies by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,004,745 shares of the technology company’s stock worth $390,232,000 after acquiring an additional 58,159 shares during the last quarter. William Blair Investment Management LLC grew its holdings in BWX Technologies by 11.8% during the 2nd quarter. William Blair Investment Management LLC now owns 6,544,781 shares of the technology company’s stock worth $319,058,000 after acquiring an additional 691,035 shares during the last quarter. BlackRock Inc. grew its holdings in BWX Technologies by 6.7% during the 2nd quarter. BlackRock Inc. now owns 5,374,992 shares of the technology company’s stock worth $262,030,000 after acquiring an additional 336,521 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in BWX Technologies by 210.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,100,416 shares of the technology company’s stock worth $199,895,000 after acquiring an additional 2,781,599 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in BWX Technologies by 11.1% during the 2nd quarter. Capital Research Global Investors now owns 3,464,262 shares of the technology company’s stock worth $168,883,000 after acquiring an additional 345,797 shares during the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.
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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