BWX Technologies, Inc. (BWXT) Position Trimmed by Picton Mahoney Asset Management
Picton Mahoney Asset Management lowered its stake in BWX Technologies, Inc. (NYSE:BWXT) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,650 shares of the technology company’s stock after selling 1,600 shares during the period. Picton Mahoney Asset Management owned 0.12% of BWX Technologies worth $5,590,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in BWXT. Quantbot Technologies LP boosted its holdings in BWX Technologies by 11.2% in the second quarter. Quantbot Technologies LP now owns 2,453 shares of the technology company’s stock valued at $119,000 after acquiring an additional 248 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in BWX Technologies in the first quarter valued at $124,000. Federated Investors Inc. PA bought a new stake in BWX Technologies in the second quarter valued at $151,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BWX Technologies by 23.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,784 shares of the technology company’s stock valued at $184,000 after acquiring an additional 721 shares in the last quarter. Finally, Globeflex Capital L P bought a new stake in BWX Technologies in the second quarter valued at $193,000. Institutional investors and hedge funds own 96.95% of the company’s stock.
Several analysts recently weighed in on the stock. BidaskClub upgraded shares of BWX Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Bank of America Corporation reiterated a “buy” rating and issued a $55.00 price target on shares of BWX Technologies in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of BWX Technologies from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, August 10th. ValuEngine upgraded shares of BWX Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Credit Suisse Group initiated coverage on shares of BWX Technologies in a report on Friday, June 9th. They issued a “neutral” rating and a $51.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.83.
In other news, insider Joseph G. Henry sold 15,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $53.81, for a total transaction of $807,150.00. Following the transaction, the insider now owns 10,639 shares of the company’s stock, valued at approximately $572,484.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Harbour Group L.P. Blue sold 1,992,829 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.20, for a total value of $106,018,502.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,009,194 shares of company stock worth $106,899,540 in the last three months. Corporate insiders own 0.76% of the company’s stock.
Shares of BWX Technologies, Inc. (NYSE BWXT) traded down 0.07% during mid-day trading on Friday, hitting $56.02. 423,000 shares of the stock were exchanged. The stock’s 50 day moving average is $53.74 and its 200 day moving average is $49.94. The firm has a market cap of $5.56 billion, a P/E ratio of 29.61 and a beta of 0.46. BWX Technologies, Inc. has a 12 month low of $36.16 and a 12 month high of $56.37.
BWX Technologies (NYSE:BWXT) last posted its quarterly earnings results on Monday, August 7th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. BWX Technologies had a return on equity of 107.13% and a net margin of 11.81%. The business had revenue of $410.01 million for the quarter, compared to the consensus estimate of $429.38 million. During the same quarter in the prior year, the company earned $0.44 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that BWX Technologies, Inc. will post $2.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 21st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Thursday, August 17th. BWX Technologies’s payout ratio is 23.28%.
BWX Technologies 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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