BWX Technologies (NYSE:BWXT) – Equities research analysts at Seaport Global Securities reduced their Q3 2019 earnings per share estimates for BWX Technologies in a report issued on Monday, May 14th. Seaport Global Securities analyst J. Sullivan now forecasts that the technology company will earn $0.76 per share for the quarter, down from their prior estimate of $0.78.
A number of other brokerages have also recently issued reports on BWXT. ValuEngine raised BWX Technologies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 19th. Wells Fargo reaffirmed a “market perform” rating and set a $65.00 price objective on shares of BWX Technologies in a research note on Tuesday, May 8th. Zacks Investment Research cut BWX Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. SunTrust Banks raised their price objective on BWX Technologies to $89.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Finally, Barclays began coverage on BWX Technologies in a research note on Thursday, March 29th. They set an “underweight” rating and a $62.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $68.00.
BWX Technologies (NYSE:BWXT) last announced its quarterly earnings data on Friday, May 4th. The technology company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.06. BWX Technologies had a return on equity of 72.41% and a net margin of 9.24%. The firm had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $447.20 million. During the same period last year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of BWXT. Brown Advisory Inc. boosted its holdings in shares of BWX Technologies by 65.2% during the fourth quarter. Brown Advisory Inc. now owns 3,573,654 shares of the technology company’s stock worth $216,170,000 after purchasing an additional 1,410,915 shares during the period. Franklin Resources Inc. boosted its holdings in shares of BWX Technologies by 46.1% during the fourth quarter. Franklin Resources Inc. now owns 1,573,131 shares of the technology company’s stock worth $95,159,000 after purchasing an additional 496,545 shares during the period. Jennison Associates LLC purchased a new stake in BWX Technologies in the fourth quarter worth about $29,508,000. Millennium Management LLC lifted its holdings in BWX Technologies by 123.4% in the first quarter. Millennium Management LLC now owns 667,318 shares of the technology company’s stock worth $42,395,000 after buying an additional 368,644 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in BWX Technologies by 70.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 572,719 shares of the technology company’s stock worth $34,643,000 after buying an additional 235,900 shares during the period. Institutional investors own 94.35% of the company’s stock.
In other news, CFO David S. Black sold 1,000 shares of the stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $67.25, for a total transaction of $67,250.00. Following the completion of the sale, the chief financial officer now directly owns 69,874 shares in the company, valued at $4,699,026.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 3,000 shares of company stock valued at $196,790. 0.76% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 6th. Stockholders of record on Friday, May 18th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.94%. BWX Technologies’s dividend payout ratio is currently 31.22%.
BWX Technologies Company Profile
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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