BWX Technologies (BWXT) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of BWX Technologies (NYSE:BWXT) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “BWX Technologies, Inc. supplies precision manufactured components and services to the commercial nuclear power industry. The company offers technical, management and site services to governments in complex facilities and environmental remediation activities. It operates primarily in Lynchburg, Va., Ohio and Cambridge, Ontario. BWX Technologies, Inc., formerly known as Babcock & Wilcox Company, is headquartered in Lynchburg, Va. “

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BWXT has been the subject of a number of other research reports. Wells Fargo assumed coverage on BWX Technologies in a report on Monday, December 11th. They set a market perform rating and a $65.00 price target for the company. Barclays assumed coverage on BWX Technologies in a report on Thursday, March 29th. They set an underweight rating and a $62.00 price target for the company. Seaport Global Securities assumed coverage on BWX Technologies in a research report on Wednesday, January 10th. They set a buy rating and a $72.00 price objective on the stock. ValuEngine upgraded BWX Technologies from a hold rating to a buy rating in a research report on Thursday, March 1st. Finally, Alembic Global Advisors restated a buy rating on shares of BWX Technologies in a research report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. BWX Technologies has a consensus rating of Buy and an average target price of $65.44.

Shares of BWX Technologies stock traded down $0.17 during trading on Tuesday, reaching $65.06. 46,098 shares of the company’s stock were exchanged, compared to its average volume of 523,797. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.65 and a current ratio of 1.65. BWX Technologies has a 1-year low of $45.79 and a 1-year high of $67.69. The stock has a market capitalization of $6,360.24, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 2.27 and a beta of 0.49.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. BWX Technologies had a return on equity of 77.24% and a net margin of 8.76%. The company had revenue of $430.14 million during the quarter, compared to analysts’ expectations of $451.18 million. research analysts forecast that BWX Technologies will post 2.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 12th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 9th. This represents a $0.64 dividend on an annualized basis and a yield of 0.98%. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.11. BWX Technologies’s payout ratio is currently 31.22%.

In related news, CFO David S. Black sold 1,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $60.36, for a total transaction of $60,360.00. Following the sale, the chief financial officer now owns 60,979 shares in the company, valued at approximately $3,680,692.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $186,350 in the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new stake in shares of BWX Technologies in the 4th quarter valued at about $126,000. Cerebellum GP LLC bought a new stake in shares of BWX Technologies in the 4th quarter valued at about $128,000. American International Group Inc. bought a new stake in shares of BWX Technologies in the 4th quarter valued at about $134,000. Assetmark Inc. grew its position 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 buying an additional 1,780 shares during the last quarter. Finally, First Manhattan Co. bought a new stake in shares of BWX Technologies in the 4th quarter valued at about $184,000. Hedge funds and other institutional investors own 94.57% of the company’s stock.

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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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