Zacks Investment Research downgraded shares of BWX Technologies Inc. (NYSE:BWXT) from a buy rating to a hold rating in a research note released on Friday.

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 company has a market capitalization of $3.97 billion, a PE ratio of 19.51 and a beta of 0.64. The stock has a 50 day moving average price of $38.62 and a 200-day moving average price of $35.51. BWX Technologies has a 52 week low of $24.71 and a 52 week high of $39.70.

BWX Technologies (NYSE:BWXT) last issued its 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. The business earned $402.38 million during the quarter, compared to the consensus estimate of $367.04 million. BWX Technologies had a return on equity of 60.44% and a net margin of 14.07%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Equities research analysts expect that BWX Technologies will post $1.65 EPS for the current year.

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

In related news, SVP James D. Canafax sold 4,500 shares of BWX Technologies stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $38.29, for a total transaction of $172,305.00. Following the transaction, the senior vice president now owns 72,100 shares of the company’s stock, valued at $2,760,709. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph G. Henry sold 16,032 shares of BWX Technologies stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $39.28, for a total value of $629,736.96. Following the transaction, the insider now directly owns 36,425 shares in the company, valued at approximately $1,430,774. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BWXT. Vanguard Group Inc. boosted its position in shares of BWX Technologies by 5.4% in the second quarter. Vanguard Group Inc. now owns 8,898,002 shares of the company’s stock valued at $318,282,000 after buying an additional 459,867 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of BWX Technologies by 6.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,006,001 shares of the company’s stock valued at $143,295,000 after buying an additional 236,228 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of BWX Technologies by 27.1% in the second quarter. Bank of New York Mellon Corp now owns 2,178,304 shares of the company’s stock valued at $77,919,000 after buying an additional 465,065 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of BWX Technologies by 26.5% in the second quarter. AQR Capital Management LLC now owns 2,096,023 shares of the company’s stock valued at $74,975,000 after buying an additional 439,737 shares during the last quarter. Finally, State Street Corp boosted its position 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 during the last quarter. 94.36% of the stock is currently owned by institutional investors.

About BWX Technologies

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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