BWX Technologies, Inc. $BWXT Stock: Pegasus Asset Management Inc. Grows Stake

Pegasus Asset Management Inc. grew its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 36.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,030 shares of the technology company’s stock after acquiring an additional 7,945 shares during the quarter. BWX Technologies accounts for approximately 1.2% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 27th biggest position. Pegasus Asset Management Inc.’s holdings in BWX Technologies were worth $4,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CenterBook Partners LP acquired a new stake in shares of BWX Technologies during the 3rd quarter worth $230,000. Heritage Family Offices LLP bought a new position in shares of BWX Technologies in the third quarter worth $40,000. Kestra Advisory Services LLC raised its stake in BWX Technologies by 14.4% in the third quarter. Kestra Advisory Services LLC now owns 4,804 shares of the technology company’s stock valued at $658,000 after purchasing an additional 606 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in BWX Technologies by 100.0% in the third quarter. Chicago Partners Investment Group LLC now owns 2,852 shares of the technology company’s stock valued at $363,000 after purchasing an additional 1,426 shares in the last quarter. Finally, Torray Investment Partners LLC raised its stake in BWX Technologies by 31.3% in the third quarter. Torray Investment Partners LLC now owns 16,585 shares of the technology company’s stock valued at $2,272,000 after purchasing an additional 3,952 shares in the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

BWX Technologies Stock Performance

NYSE BWXT opened at $119.47 on Friday. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.78 and a beta of 0.75. The company has a quick ratio of 2.33, a current ratio of 1.88 and a debt-to-equity ratio of 1.43. BWX Technologies, Inc. has a twelve month low of $112.54 and a twelve month high of $241.82. The stock has a fifty day simple moving average of $140.58 and a 200 day simple moving average of $182.63.

BWX Technologies (NYSE:BWXT) last released its earnings results on Monday, November 2nd. The technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $952.97 million during the quarter, compared to the consensus estimate of $970.52 million. BWX Technologies had a net margin of 10.41% and a return on equity of 31.65%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. Sell-side analysts expect that BWX Technologies, Inc. will post 4.76 EPS for the current year.

BWX Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, November 19th. This represents a $1.08 annualized dividend and a yield of 0.9%. BWX Technologies’s dividend payout ratio is presently 26.47%.

Insiders Place Their Bets

In other BWX Technologies news, CEO Rex D. Geveden sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $172.50, for a total value of $1,725,000.00. Following the transaction, the chief executive officer directly owned 192,491 shares of the company’s stock, valued at approximately $33,204,697.50. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BWXT shares. Wall Street Zen downgraded shares of BWX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America dropped their target price on shares of BWX Technologies from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. JPMorgan Chase & Co. cut their price target on shares of BWX Technologies from $230.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Guggenheim reaffirmed a “buy” rating and set a $192.00 price target on shares of BWX Technologies in a report on Wednesday, September 30th. Finally, Wells Fargo & Company upgraded shares of BWX Technologies from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $200.00 to $170.00 in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, BWX Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

BWX Technologies Company Profile

BWX Technologies, Inc (NYSE: BWXT) is a supplier of nuclear components, fuel and services for government and commercial customers. Its work includes designing and manufacturing nuclear reactors and related equipment for the U.S. Navy’s nuclear-powered fleet, as well as providing engineering, maintenance and other services to government nuclear programs.

Through its commercial operations, BWXT supplies components and services for nuclear power plants and supports activities such as nuclear facility decommissioning and waste management.