Zacks Investment Research lowered shares of BWX Technologies Inc. (NYSE:BWXT) from a buy rating to a hold rating in a report issued on Friday morning.

According to Zacks, “BWX Technologies, Inc. supplies precision manufactured components and services to the commercial nuclear power industry. The company offers technical, management and site services to governments in complex facilities and environmental remediation activities. It operates primarily in Lynchburg, Va., Ohio and Cambridge, Ontario. BWX Technologies, Inc., formerly known as Babcock & Wilcox Company, is headquartered in Lynchburg, Va. “

Shares of BWX Technologies (NYSE:BWXT) opened at 38.37 on Friday. The firm has a 50 day moving average of $38.62 and a 200 day moving average of $35.51. BWX Technologies has a one year low of $24.71 and a one year high of $39.70. The stock has a market cap of $3.97 billion, a P/E ratio of 19.51 and a beta of 0.64.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.06. BWX Technologies had a net margin of 14.07% and a return on equity of 60.44%. The firm had revenue of $402.38 million for the quarter, compared to the consensus estimate of $367.04 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts predict that BWX Technologies will post $1.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 22nd were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. BWX Technologies’s dividend payout ratio is 18.27%.

In other BWX Technologies news, insider Joseph G. Henry sold 16,032 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $39.28, for a total transaction of $629,736.96. Following the completion of the sale, the insider now directly owns 36,425 shares of the company’s stock, valued at approximately $1,430,774. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James D. Canafax sold 4,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $37.74, for a total value of $169,830.00. Following the sale, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at $2,551,224. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of BWX Technologies by 48.6% in the first quarter. Goldman Sachs Group Inc. now owns 335,207 shares of the company’s stock valued at $11,249,000 after buying an additional 109,668 shares in the last quarter. State Street Corp boosted its stake in shares of BWX Technologies by 2.8% in the first quarter. State Street Corp now owns 1,607,839 shares of the company’s stock valued at $53,958,000 after buying an additional 44,028 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in shares of BWX Technologies by 171.8% in the first quarter. Picton Mahoney Asset Management now owns 281,712 shares of the company’s stock valued at $9,453,000 after buying an additional 178,068 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of BWX Technologies during the first quarter valued at $221,000. Finally, Menta Capital LLC boosted its stake in shares of BWX Technologies by 43.9% in the first quarter. Menta Capital LLC now owns 94,979 shares of the company’s stock valued at $3,187,000 after buying an additional 28,988 shares in the last quarter. 94.36% of the stock is owned by hedge funds and other institutional investors.

BWX Technologies Company Profile

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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