BWX Technologies Inc. (BWXT) Rating Increased to Buy at Zacks Investment Research
BWX Technologies Inc. (NYSE:BWXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $43.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.07% from the company’s current price.
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. “
BWX Technologies (NYSE:BWXT) opened at 38.37 on Monday. The stock’s 50 day moving average price is $38.62 and its 200-day moving average price is $35.51. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 19.51 and a beta of 0.64. BWX Technologies has a 12 month low of $24.71 and a 12 month high of $39.70.
BWX Technologies (NYSE:BWXT) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.06. The business had revenue of $402.38 million for the quarter, compared to analysts’ expectations of $367.04 million. BWX Technologies had a return on equity of 60.44% and a net margin of 14.07%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. Equities analysts anticipate that BWX Technologies will post $1.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 22nd were given a $0.09 dividend. The ex-dividend date 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 currently 18.27%.
In related news, insider Joseph G. Henry sold 16,032 shares of BWX Technologies stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $39.28, for a total transaction of $629,736.96. Following the sale, the insider now directly owns 36,425 shares in the company, valued at $1,430,774. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James D. Canafax sold 4,500 shares of BWX Technologies stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $38.29, for a total value of $172,305.00. Following the sale, the senior vice president now owns 72,100 shares in the company, valued at $2,760,709. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Societe Generale purchased a new stake in BWX Technologies during the second quarter valued at $114,000. M&T Bank Corp purchased a new stake in BWX Technologies during the first quarter valued at $221,000. Metropolitan Life Insurance Co. NY raised its stake in BWX Technologies by 71.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,014 shares of the company’s stock valued at $251,000 after buying an additional 2,921 shares in the last quarter. Calamos Advisors LLC purchased a new stake in BWX Technologies during the second quarter valued at $270,000. Finally, American Century Companies Inc. raised its stake in BWX Technologies by 3.5% in the second quarter. American Century Companies Inc. now owns 7,618 shares of the company’s stock valued at $272,000 after buying an additional 259 shares in the last quarter. Institutional investors own 94.36% of the company’s stock.
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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