State Board of Administration of Florida Retirement System decreased its stake in BWX Technologies (NYSE:BWXT) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,862 shares of the technology company’s stock after selling 1,271 shares during the period. State Board of Administration of Florida Retirement System owned 0.16% of BWX Technologies worth $10,156,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors bought a new position in shares of BWX Technologies in the 4th quarter valued at about $126,000. Cerebellum GP LLC bought a new position in shares of BWX Technologies in the 4th quarter valued at about $128,000. Assetmark Inc. grew its holdings in shares of BWX Technologies by 402.7% in the 4th quarter. Assetmark Inc. now owns 2,222 shares of the technology company’s stock valued at $134,000 after acquiring an additional 1,780 shares in the last quarter. American International Group Inc. bought a new position in shares of BWX Technologies in the 4th quarter valued at about $134,000. Finally, First Manhattan Co. bought a new position in shares of BWX Technologies in the 4th quarter valued at about $184,000. Institutional investors own 94.35% of the company’s stock.
In related news, CFO David S. Black sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $64.44, for a total value of $64,440.00. Following the completion of the sale, the chief financial officer now directly owns 71,874 shares in the company, valued at approximately $4,631,560.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 3,000 shares of company stock valued at $196,790 over the last quarter. 0.76% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on BWXT. ValuEngine upgraded BWX Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 19th. SunTrust Banks raised their price objective on BWX Technologies to $89.00 and gave the company a “buy” rating in a report on Friday, May 4th. Zacks Investment Research cut BWX Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Barclays assumed coverage on BWX Technologies in a report on Thursday, March 29th. They issued an “underweight” rating and a $62.00 price objective for the company. Finally, Wells Fargo reiterated a “market perform” rating and issued a $65.00 target price on shares of BWX Technologies in a research note on Tuesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $68.00.
Shares of NYSE:BWXT opened at $68.44 on Friday. BWX Technologies has a 52-week low of $45.79 and a 52-week high of $72.18. The stock has a market capitalization of $6.82 billion, a P/E ratio of 33.39, a PEG ratio of 2.47 and a beta of 0.50. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.15 and a quick ratio of 2.15.
BWX Technologies (NYSE:BWXT) last issued its earnings results on Friday, May 4th. The technology company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.06. BWX Technologies had a net margin of 9.24% and a return on equity of 72.41%. The business had revenue of $457.00 million during the quarter, compared to the consensus estimate of $447.20 million. During the same period last year, the business posted $0.55 EPS. BWX Technologies’s revenue was up 6.8% on a year-over-year basis. sell-side analysts expect that BWX Technologies will post 2.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 6th. Investors of record on Friday, May 18th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $0.64 annualized dividend and a yield of 0.94%. BWX Technologies’s dividend payout ratio (DPR) is currently 31.22%.
About BWX Technologies
BWX Technologies, Inc manufactures and sells nuclear components to the United States government. The company operates in three segments: Nuclear Operations, Technical Services, and Nuclear Energy. The Nuclear Operations segment offers precision naval nuclear components and reactors; close-tolerance and equipment for nuclear applications; and components for defense applications, as well as critical nuclear components, fuels, and assemblies for government and other uses.
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