BWX Technologies, Inc. (BWXT) Hits New 1-Year High on Analyst Upgrade
BWX Technologies, Inc. (NYSE:BWXT) reached a new 52-week high on Thursday after Bank of America Corporation raised their price target on the stock from $60.00 to $65.00. Bank of America Corporation currently has a buy rating on the stock. BWX Technologies traded as high as $58.06 and last traded at $58.03, with a volume of 418,235 shares traded. The stock had previously closed at $56.88.
BWXT has been the topic of several other reports. BidaskClub lowered shares of BWX Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. Credit Suisse Group started coverage on shares of BWX Technologies in a report on Friday, June 9th. They issued a “neutral” rating and a $51.00 target price on the stock. Zacks Investment Research raised shares of BWX Technologies from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Thursday, August 10th. ValuEngine raised shares of BWX Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $62.00 price objective on shares of BWX Technologies in a research report on Monday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.17.
In related news, insider Harbour Group L.P. Blue sold 1,992,829 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.20, for a total value of $106,018,502.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jason S. Kerr sold 1,365 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $54.13, for a total transaction of $73,887.45. Following the completion of the transaction, the vice president now directly owns 4,312 shares of the company’s stock, valued at approximately $233,408.56. The disclosure for this sale can be found here. Insiders have sold 2,009,194 shares of company stock valued at $106,899,540 in the last three months. 0.76% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its position in BWX Technologies by 11.2% in the second quarter. Quantbot Technologies LP now owns 2,453 shares of the technology company’s stock valued at $119,000 after purchasing an additional 248 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in BWX Technologies in the first quarter valued at $124,000. Federated Investors Inc. PA bought a new position in BWX Technologies in the second quarter valued at $151,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in BWX Technologies by 23.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,784 shares of the technology company’s stock valued at $184,000 after purchasing an additional 721 shares in the last quarter. Finally, Globeflex Capital L P bought a new position in BWX Technologies in the second quarter valued at $193,000. 96.95% of the stock is owned by institutional investors and hedge funds.
The firm’s 50-day moving average price is $54.58 and its 200-day moving average price is $50.66. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 30.73 and a beta of 0.46.
BWX Technologies (NYSE:BWXT) last released its quarterly earnings data on Monday, August 7th. The technology company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.09. BWX Technologies had a net margin of 11.81% and a return on equity of 107.13%. The firm had revenue of $410.01 million for the quarter, compared to the consensus estimate of $429.38 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. On average, analysts forecast that BWX Technologies, Inc. will post $2.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 21st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.44 annualized dividend and a yield of 0.77%. BWX Technologies’s payout ratio is 23.28%.
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BWX Technologies Company Profile
BWX Technologies, Inc is a manufacturer of nuclear components and a service provider. The Company’s businesses focus on the design, engineering and manufacture of precision naval nuclear components, reactors and nuclear fuel for the United States Government. Its segments include Nuclear Operations, Technical Services, Nuclear Energy and Other.
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