Bowen Hanes & Co. Inc. Makes New Investment in BWX Technologies, Inc. (NYSE:BWXT)

Bowen Hanes & Co. Inc. purchased a new stake in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 227,860 shares of the technology company's stock, valued at approximately $25,381,000. Bowen Hanes & Co. Inc. owned about 0.25% of BWX Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BWXT. QRG Capital Management Inc. purchased a new stake in shares of BWX Technologies in the 3rd quarter worth about $240,000. Assetmark Inc. lifted its holdings in BWX Technologies by 10.7% in the third quarter. Assetmark Inc. now owns 32,086 shares of the technology company's stock worth $3,488,000 after buying an additional 3,090 shares during the period. Crossmark Global Holdings Inc. boosted its position in BWX Technologies by 17.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,605 shares of the technology company's stock valued at $609,000 after acquiring an additional 852 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of BWX Technologies during the 3rd quarter worth approximately $270,000. Finally, KBC Group NV lifted its stake in shares of BWX Technologies by 10.9% in the 3rd quarter. KBC Group NV now owns 2,526 shares of the technology company's stock valued at $275,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 94.39% of the company's stock.

Insider Activity

In related news, SVP Ronald Owen Whitford, Jr. sold 2,000 shares of BWX Technologies stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $104.92, for a total value of $209,840.00. Following the completion of the sale, the senior vice president now owns 9,904 shares of the company's stock, valued at $1,039,127.68. The trade was a 16.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rex D. Geveden sold 45,625 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $107.40, for a total value of $4,900,125.00. Following the completion of the transaction, the chief executive officer now directly owns 218,218 shares in the company, valued at approximately $23,436,613.20. This represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,625 shares of company stock valued at $5,734,145 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price target on BWX Technologies from $106.00 to $114.00 and gave the company a "hold" rating in a research report on Tuesday, January 14th. Maxim Group boosted their target price on shares of BWX Technologies from $138.00 to $140.00 and gave the company a "buy" rating in a report on Friday, January 10th. Finally, Barclays increased their price target on shares of BWX Technologies from $90.00 to $105.00 and gave the stock an "underweight" rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $127.50.

BWX Technologies Stock Up 1.6 %

BWX Technologies stock traded up $1.58 during mid-day trading on Monday, reaching $99.85. The stock had a trading volume of 1,434,376 shares, compared to its average volume of 714,151. BWX Technologies, Inc. has a one year low of $86.70 and a one year high of $136.31. The company has a 50-day moving average price of $110.33 and a two-hundred day moving average price of $114.36. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 3.20 and a beta of 0.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.25 and a quick ratio of 2.25.

BWX Technologies (NYSE:BWXT - Get Free Report) last issued its earnings results on Monday, February 24th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.12. The firm had revenue of $746.27 million for the quarter, compared to the consensus estimate of $653.16 million. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. On average, analysts expect that BWX Technologies, Inc. will post 3.23 EPS for the current fiscal year.

BWX Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 11th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. This is a boost from BWX Technologies's previous quarterly dividend of $0.24. BWX Technologies's payout ratio is currently 32.57%.

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.