Prudential Financial Inc. decreased its position in BWX Technologies, Inc. (NYSE:BWXT) by 88.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,779 shares of the technology company’s stock after selling 835,400 shares during the period. Prudential Financial Inc.’s holdings in BWX Technologies were worth $5,035,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in BWXT. Scout Investments Inc. increased its stake in BWX Technologies by 84.6% in the first quarter. Scout Investments Inc. now owns 996,882 shares of the technology company’s stock worth $33,455,000 after buying an additional 456,737 shares during the last quarter. State Street Corp increased its stake in BWX Technologies by 14.5% in the fourth quarter. State Street Corp now owns 1,893,172 shares of the technology company’s stock worth $75,162,000 after buying an additional 240,157 shares during the last quarter. Acadian Asset Management LLC increased its stake in BWX Technologies by 8,728.4% in the first quarter. Acadian Asset Management LLC now owns 202,966 shares of the technology company’s stock worth $9,662,000 after buying an additional 200,667 shares during the last quarter. Ameriprise Financial Inc. increased its stake in BWX Technologies by 73.3% in the first quarter. Ameriprise Financial Inc. now owns 179,523 shares of the technology company’s stock worth $8,548,000 after buying an additional 75,906 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in BWX Technologies by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 596,331 shares of the technology company’s stock worth $28,385,000 after buying an additional 75,327 shares during the last quarter. 96.54% of the stock is owned by institutional investors and hedge funds.
BWX Technologies, Inc. (NYSE BWXT) opened at 46.35 on Friday. BWX Technologies, Inc. has a 12-month low of $33.85 and a 12-month high of $51.00. The firm has a 50-day moving average of $48.75 and a 200-day moving average of $45.05. The firm has a market cap of $4.59 billion, a P/E ratio of 25.23 and a beta of 0.42.
BWX Technologies (NYSE:BWXT) last issued its earnings results on Monday, May 1st. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. The business had revenue of $428.23 million during the quarter, compared to analyst estimates of $391.71 million. BWX Technologies had a return on equity of 98.16% and a net margin of 11.63%. BWX Technologies’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. On average, analysts expect that BWX Technologies, Inc. will post $1.99 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Tuesday, May 16th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, May 12th. BWX Technologies’s dividend payout ratio is presently 24.04%.
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BWXT has been the subject of a number of recent analyst reports. TheStreet raised shares of BWX Technologies from a “c+” rating to a “b” rating in a research report on Tuesday, March 21st. Bank of America Corporation raised shares of BWX Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $43.00 to $55.00 in a research report on Tuesday, March 21st. Zacks Investment Research raised shares of BWX Technologies from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Tuesday, March 21st. Credit Suisse Group initiated coverage on shares of BWX Technologies in a research report on Friday, June 9th. They set a “neutral” rating and a $51.00 price target for the company. Finally, Sidoti reissued a “buy” rating and set a $62.00 price target on shares of BWX Technologies in a research report on Wednesday, May 31st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $51.50.
In related news, insider Joseph G. Henry sold 32,895 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $50.10, for a total value of $1,648,039.50. Following the completion of the transaction, the insider now directly owns 32,616 shares in the company, valued at $1,634,061.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Harbour Group L.P. Blue sold 3,295,098 shares of the company’s stock in a transaction on 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. Corporate insiders own 0.76% of the company’s stock.
BWX Technologies Company Profile
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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