Comerica Bank increased its stake in BWX Technologies Inc (NYSE:BWXT) by 8.7% during the third quarter, HoldingsChannel.com reports. The firm owned 29,239 shares of the technology company’s stock after purchasing an additional 2,338 shares during the quarter. Comerica Bank’s holdings in BWX Technologies were worth $1,749,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in BWXT. Frontier Capital Management Co. LLC bought a new position in BWX Technologies in the 2nd quarter worth $56,761,000. Baird Financial Group Inc. bought a new position in BWX Technologies in the 2nd quarter worth $32,951,000. Victory Capital Management Inc. raised its holdings in BWX Technologies by 56.8% in the 3rd quarter. Victory Capital Management Inc. now owns 651,362 shares of the technology company’s stock worth $40,736,000 after purchasing an additional 236,074 shares during the period. BlackRock Inc. raised its holdings in BWX Technologies by 2.8% in the 2nd quarter. BlackRock Inc. now owns 5,959,698 shares of the technology company’s stock worth $371,407,000 after purchasing an additional 162,958 shares during the period. Finally, OppenheimerFunds Inc. raised its holdings in BWX Technologies by 16.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,077,946 shares of the technology company’s stock worth $67,179,000 after purchasing an additional 155,995 shares during the period. 96.01% of the stock is currently owned by institutional investors.
In other BWX Technologies news, CEO Rex D. Geveden purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were acquired at an average cost of $41.49 per share, with a total value of $103,725.00. Following the completion of the acquisition, the chief executive officer now directly owns 28,595 shares in the company, valued at $1,186,406.55. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David S. Black sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $61.57, for a total value of $61,570.00. Following the sale, the chief financial officer now directly owns 69,570 shares in the company, valued at $4,283,424.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,000 shares of company stock worth $165,510. Insiders own 0.76% of the company’s stock.
BWX Technologies (NYSE:BWXT) last posted its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.22). The business had revenue of $425.50 million for the quarter, compared to the consensus estimate of $461.26 million. BWX Technologies had a net margin of 10.81% and a return on equity of 66.38%. BWX Technologies’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, analysts predict that BWX Technologies Inc will post 2.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.64 dividend on an annualized basis and a yield of 1.42%. BWX Technologies’s dividend payout ratio is presently 31.22%.
A number of brokerages recently commented on BWXT. Zacks Investment Research cut BWX Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. SunTrust Banks decreased their price target on BWX Technologies from $83.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, August 21st. Bank of America decreased their price target on BWX Technologies from $70.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, November 8th. ValuEngine cut BWX Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. Finally, TheStreet cut BWX Technologies from a “b” rating to a “c+” rating in a report on Tuesday, November 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $59.56.
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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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