BWX Technologies, Inc. (BWXT) Hits New 12-Month High on Analyst Upgrade
BWX Technologies, Inc. (NYSE:BWXT) shares hit a new 52-week high during mid-day trading on Thursday after Bank of America Corporation raised their price target on the stock from $60.00 to $65.00. Bank of America Corporation currently has a buy rating on the stock. BWX Technologies traded as high as $58.06 and last traded at $58.03, with a volume of 418,235 shares changing hands. The stock had previously closed at $56.88.
A number of other analysts have also commented on the stock. SunTrust Banks, Inc. reissued a “buy” rating and issued a $62.00 price objective on shares of BWX Technologies in a research report on Monday, October 2nd. ValuEngine lowered shares of BWX Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of BWX Technologies from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Thursday, August 10th. BidaskClub raised shares of BWX Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Finally, Credit Suisse Group AG assumed coverage on shares of BWX Technologies in a research report on Friday, June 9th. They issued a “neutral” rating and a $51.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $57.17.
In other BWX Technologies news, VP Jason S. Kerr sold 1,365 shares of the company’s stock in a transaction on 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 directly owns 4,312 shares of the company’s stock, valued at $233,408.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Harbour Group L.P. Blue sold 1,992,829 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.20, for a total transaction of $106,018,502.80. The disclosure for this sale can be found here. In the last three months, insiders sold 2,009,194 shares of company stock worth $106,899,540. 0.76% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Curbstone Financial Management Corp raised its position in BWX Technologies by 100.0% during the third quarter. Curbstone Financial Management Corp now owns 14,150 shares of the technology company’s stock worth $793,000 after acquiring an additional 7,075 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in BWX Technologies by 1.3% during the second quarter. Burgundy Asset Management Ltd. now owns 1,200,631 shares of the technology company’s stock worth $58,531,000 after acquiring an additional 15,430 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in BWX Technologies by 12.4% during the second quarter. Public Employees Retirement System of Ohio now owns 139,138 shares of the technology company’s stock worth $6,783,000 after acquiring an additional 15,367 shares in the last quarter. Sterling Capital Management LLC bought a new stake in BWX Technologies during the second quarter worth $2,633,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in BWX Technologies by 38.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 55,509 shares of the technology company’s stock worth $2,649,000 after acquiring an additional 15,445 shares in the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.
The firm’s 50-day moving average is $54.89 and its 200 day moving average is $50.81. The company has a market cap of $5.90 billion, a P/E ratio of 31.40 and a beta of 0.46.
BWX Technologies (NYSE:BWXT) last posted its quarterly earnings data on Monday, August 7th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. The firm had revenue of $410.01 million for the quarter, compared to the consensus estimate of $429.38 million. BWX Technologies had a net margin of 11.81% and a return on equity of 107.13%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. On average, equities research analysts predict that BWX Technologies, Inc. will post $2.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 21st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Thursday, August 17th. BWX Technologies’s payout ratio is 23.28%.
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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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