State Board of Administration of Florida Retirement System Sells 2,890 Shares of BWX Technologies Inc (NYSE:BWXT)
State Board of Administration of Florida Retirement System lessened its stake in BWX Technologies Inc (NYSE:BWXT) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,972 shares of the technology company’s stock after selling 2,890 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.16% of BWX Technologies worth $9,782,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of BWXT. Ostrum Asset Management purchased a new stake in shares of BWX Technologies in the first quarter valued at about $108,000. Destination Wealth Management boosted its stake in shares of BWX Technologies by 2,867.8% in the second quarter. Destination Wealth Management now owns 1,751 shares of the technology company’s stock valued at $109,000 after purchasing an additional 1,692 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in BWX Technologies in the first quarter valued at approximately $120,000. Synovus Financial Corp acquired a new stake in BWX Technologies in the first quarter valued at approximately $122,000. Finally, First Mercantile Trust Co. acquired a new stake in BWX Technologies in the second quarter valued at approximately $192,000. 95.27% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on BWXT. Zacks Investment Research lowered shares of BWX Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. SunTrust Banks cut their target price on shares of BWX Technologies from $83.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, August 21st. Bank of America cut BWX Technologies from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a report on Thursday, May 24th. They noted that the move was a valuation call. ValuEngine cut BWX Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Finally, Credit Suisse Group reduced their target price on BWX Technologies from $72.00 to $64.00 and set a “neutral” rating for the company in a research note on Tuesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $70.00.
BWX Technologies (NYSE:BWXT) last announced its quarterly earnings data on Monday, August 6th. The technology company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.02). BWX Technologies had a return on equity of 66.19% and a net margin of 9.05%. The firm had revenue of $438.92 million for the quarter, compared to analyst estimates of $445.70 million. During the same period in the previous year, the business posted $0.56 EPS. BWX Technologies’s revenue for the quarter was up 7.1% compared to the same quarter last year. research analysts forecast that BWX Technologies Inc will post 2.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Monday, August 20th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, August 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. BWX Technologies’s dividend payout ratio (DPR) is presently 31.22%.
In other news, VP Jason S. Kerr sold 1,365 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $64.06, for a total transaction of $87,441.90. Following the transaction, the vice president now owns 9,132 shares in the company, valued at $584,995.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David S. Black sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 11th. The shares were sold at an average price of $63.77, for a total value of $63,770.00. Following the completion of the sale, the chief financial officer now directly owns 71,570 shares in the company, valued at approximately $4,564,018.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,365 shares of company stock valued at $280,902. 0.76% of the stock is owned by insiders.
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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