Virginia Retirement Systems ET AL acquired a new position in shares of BWX Technologies Inc. (NYSE:BWXT) during the second quarter, Holdings Channel reports. The firm acquired 42,600 shares of the company’s stock, valued at approximately $1,524,000.
Other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in BWX Technologies by 390.5% in the first quarter. Renaissance Technologies LLC now owns 961,800 shares of the company’s stock worth $32,278,000 after buying an additional 765,700 shares during the period. RS Investment Management Co. LLC purchased a new stake in BWX Technologies during the second quarter valued at about $24,074,000. Goldman Sachs Group Inc. boosted its stake in BWX Technologies by 48.6% in the first quarter. Goldman Sachs Group Inc. now owns 335,207 shares of the company’s stock valued at $11,249,000 after buying an additional 109,668 shares during the last quarter. Smith Asset Management Group LP boosted its stake in BWX Technologies by 185.5% in the second quarter. Smith Asset Management Group LP now owns 1,075,650 shares of the company’s stock valued at $38,476,000 after buying an additional 698,920 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in BWX Technologies by 1.1% in the second quarter. M&T Bank Corp now owns 6,639 shares of the company’s stock valued at $236,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 94.36% of the company’s stock.
BWX Technologies Inc. (NYSE:BWXT) opened at 38.76 on Tuesday. The firm has a 50-day moving average of $38.81 and a 200-day moving average of $35.69. BWX Technologies Inc. has a 1-year low of $25.45 and a 1-year high of $39.70. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 19.71 and a beta of 0.64.
BWX Technologies (NYSE:BWXT) last announced its earnings results on Monday, August 8th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.06. BWX Technologies had a net margin of 14.07% and a return on equity of 60.44%. The firm had revenue of $402.38 million for the quarter, compared to analyst estimates of $367.04 million. During the same quarter last year, the business earned $0.32 earnings per share. BWX Technologies’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that BWX Technologies Inc. will post $1.66 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 22nd were given a dividend of $0.09 per share. The ex-dividend date was Thursday, August 18th. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. BWX Technologies’s dividend payout ratio (DPR) is currently 18.27%.
Separately, Zacks Investment Research upgraded BWX Technologies from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, August 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. BWX Technologies has a consensus rating of “Buy” and an average target price of $38.39.
In related news, SVP James D. Canafax sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $38.29, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph G. Henry sold 16,032 shares of the firm’s 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 owns 36,425 shares in the company, valued at approximately $1,430,774. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.
About BWX Technologies
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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