BlackRock Inc. Cuts Position in BWX Technologies, Inc. (NYSE:BWXT)

BlackRock Inc. trimmed its holdings in shares of BWX Technologies, Inc. (NYSE:BWXT – Get Rating) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,835,928 shares of the technology company’s stock after selling 16,113 shares during the period. BlackRock Inc. owned approximately 5.30% of BWX Technologies worth $243,590,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Invesco Ltd. lifted its stake in shares of BWX Technologies by 151.0% in the first quarter. Invesco Ltd. now owns 737,554 shares of the technology company’s stock worth $39,725,000 after buying an additional 443,758 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in BWX Technologies in the 3rd quarter valued at approximately $20,392,000. Deutsche Bank AG boosted its stake in BWX Technologies by 113.0% during the 2nd quarter. Deutsche Bank AG now owns 618,834 shares of the technology company’s stock valued at $34,091,000 after purchasing an additional 328,322 shares during the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of BWX Technologies in the 3rd quarter worth $14,417,000. Finally, State Street Corp raised its stake in shares of BWX Technologies by 11.9% in the first quarter. State Street Corp now owns 2,645,251 shares of the technology company’s stock worth $142,473,000 after purchasing an additional 281,441 shares during the last quarter. 99.33% of the stock is owned by institutional investors.

BWX Technologies Stock Performance

BWXT opened at $61.40 on Tuesday. The company’s 50 day moving average is $59.76 and its 200 day moving average is $57.35. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 1.71. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 4.45 and a beta of 0.79. BWX Technologies, Inc. has a 12-month low of $45.78 and a 12-month high of $64.62.

BWX Technologies (NYSE:BWXT – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The technology company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.02). BWX Technologies had a return on equity of 40.65% and a net margin of 10.67%. The company had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $641.18 million. During the same quarter last year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts predict that BWX Technologies, Inc. will post 2.93 EPS for the current year.

BWX Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Friday, March 10th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.50%. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 9th. BWX Technologies’s dividend payout ratio is currently 35.38%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BWXT. Barclays raised BWX Technologies from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a research report on Thursday, December 8th. Maxim Group lifted their price target on shares of BWX Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 29th. Finally, Credit Suisse Group increased their price objective on shares of BWX Technologies from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.50.

BWX Technologies Profile

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BWX Technologies, Inc engages in the supply and provision of nuclear components and products. It operates through the Government Operations and Commercial Operations segments. The Government Operations segment manufactures naval nuclear reactors, including the related nuclear fuel, for the U.S. Naval Nuclear Propulsion Program for use in submarines and aircraft carriers.