BWX Technologies, Inc. (BWXT) Stock Rating Reaffirmed by SunTrust Banks, Inc.
SunTrust Banks, Inc. reaffirmed their buy rating on shares of BWX Technologies, Inc. (NYSE:BWXT) in a report issued on Monday. They currently have a $62.00 price objective on the technology company’s stock.
A number of other brokerages have also recently commented on BWXT. BidaskClub raised shares of BWX Technologies from a buy rating to a strong-buy rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of BWX Technologies from a buy rating to a hold rating in a research note on Tuesday, July 4th. Credit Suisse Group AG started coverage on shares of BWX Technologies in a research note on Friday, June 9th. They issued a neutral rating and a $51.00 price objective for the company. Bank of America Corporation reissued a buy rating and issued a $55.00 price objective on shares of BWX Technologies in a research note on Thursday, August 10th. Finally, ValuEngine raised shares of BWX Technologies from a hold rating to a buy rating in a research note on Wednesday, September 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $57.17.
Shares of BWX Technologies (BWXT) opened at 59.03 on Monday. The company has a market capitalization of $5.86 billion, a P/E ratio of 31.20 and a beta of 0.46. BWX Technologies has a 1-year low of $36.16 and a 1-year high of $59.07. The firm has a 50-day moving average of $54.73 and a 200 day moving average of $50.72.
BWX Technologies (NYSE:BWXT) last issued its quarterly earnings data on Monday, August 7th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. BWX Technologies had a net margin of 11.81% and a return on equity of 107.13%. The business had revenue of $410.01 million during the quarter, compared to analysts’ expectations of $429.38 million. During the same period last year, the company posted $0.44 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, analysts anticipate that BWX Technologies will post $2.03 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 21st were issued a $0.11 dividend. The ex-dividend date was Thursday, August 17th. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. BWX Technologies’s dividend payout ratio (DPR) is presently 23.28%.
In related news, insider Harbour Group L.P. Blue sold 1,992,829 shares of BWX Technologies stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.20, for a total transaction of $106,018,502.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jason S. Kerr sold 1,365 shares of BWX Technologies stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $54.13, for a total transaction of $73,887.45. Following the sale, the vice president now owns 4,312 shares of the company’s stock, valued at approximately $233,408.56. The disclosure for this sale can be found here. Insiders sold a total of 2,009,194 shares of company stock valued at $106,899,540 in the last 90 days. Company insiders own 0.76% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BWXT. Quantbot Technologies LP lifted its holdings in BWX Technologies by 11.2% during the 2nd quarter. Quantbot Technologies LP now owns 2,453 shares of the technology company’s stock valued at $119,000 after buying an additional 248 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in BWX Technologies during the 1st quarter valued at about $124,000. Federated Investors Inc. PA bought a new stake in BWX Technologies during the 2nd quarter valued at about $151,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in BWX Technologies by 23.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,784 shares of the technology company’s stock valued at $184,000 after buying an additional 721 shares in the last quarter. Finally, Globeflex Capital L P bought a new stake in BWX Technologies during the 2nd quarter valued at about $193,000. Institutional investors own 96.95% of the company’s stock.
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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