Oppenheimer Asset Management Inc. Decreases Position in BWX Technologies, Inc. (NYSE:BWXT)

Oppenheimer Asset Management Inc. trimmed its position in shares of BWX Technologies, Inc. (NYSE:BWXT) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,267 shares of the technology company’s stock after selling 253 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BWX Technologies were worth $717,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. lifted its position in shares of BWX Technologies by 40.4% in the fourth quarter. Principal Securities Inc. now owns 316 shares of the technology company’s stock valued at $35,000 after acquiring an additional 91 shares in the last quarter. Utah Retirement Systems lifted its position in shares of BWX Technologies by 2.1% in the fourth quarter. Utah Retirement Systems now owns 4,900 shares of the technology company’s stock valued at $546,000 after acquiring an additional 100 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in shares of BWX Technologies by 6.0% in the first quarter. Gateway Investment Advisers LLC now owns 2,154 shares of the technology company’s stock valued at $212,000 after acquiring an additional 121 shares in the last quarter. Congress Wealth Management LLC DE lifted its position in shares of BWX Technologies by 5.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,249 shares of the technology company’s stock valued at $251,000 after acquiring an additional 125 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in shares of BWX Technologies by 0.8% in the first quarter. Miracle Mile Advisors LLC now owns 18,669 shares of the technology company’s stock valued at $1,842,000 after acquiring an additional 151 shares in the last quarter. 94.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on BWXT shares. Maxim Group reduced their price objective on BWX Technologies from $140.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Wall Street Zen downgraded BWX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Seaport Res Ptn upgraded BWX Technologies to a “strong-buy” rating in a research report on Tuesday, April 1st. William Blair restated an “outperform” rating on shares of BWX Technologies in a research report on Wednesday, June 18th. Finally, Bank of America reduced their price objective on BWX Technologies from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.09.

BWX Technologies Stock Performance

BWX Technologies stock opened at $143.32 on Friday. The firm has a market capitalization of $13.09 billion, a P/E ratio of 45.64, a PEG ratio of 3.60 and a beta of 0.66. The stock has a fifty day moving average price of $121.37 and a 200 day moving average price of $112.77. BWX Technologies, Inc. has a 52 week low of $84.21 and a 52 week high of $145.33. The company has a current ratio of 2.02, a quick ratio of 1.91 and a debt-to-equity ratio of 1.08.

BWX Technologies (NYSE:BWXT) last released its earnings results on Monday, May 5th. The technology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.73 by $0.18. The firm had revenue of $682.26 million during the quarter, compared to analyst estimates of $644.15 million. BWX Technologies had a return on equity of 30.26% and a net margin of 10.39%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. Equities research analysts anticipate that BWX Technologies, Inc. will post 3.23 earnings per share for the current year.

BWX Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.00 annualized dividend and a yield of 0.70%. BWX Technologies’s dividend payout ratio is presently 31.85%.

About BWX Technologies

BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; fabrication activities; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers.