Raymond James Financial Inc. Invests $69.73 Million in BWX Technologies, Inc. (NYSE:BWXT)

Raymond James Financial Inc. acquired a new stake in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 626,000 shares of the technology company's stock, valued at approximately $69,730,000. Raymond James Financial Inc. owned 0.68% of BWX Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BWXT. QRG Capital Management Inc. purchased a new stake in shares of BWX Technologies in the third quarter worth $240,000. Concurrent Investment Advisors LLC raised its holdings in BWX Technologies by 58.0% during the third quarter. Concurrent Investment Advisors LLC now owns 4,929 shares of the technology company's stock valued at $536,000 after acquiring an additional 1,810 shares during the period. Assetmark Inc. lifted its position in shares of BWX Technologies by 10.7% in the third quarter. Assetmark Inc. now owns 32,086 shares of the technology company's stock valued at $3,488,000 after acquiring an additional 3,090 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of BWX Technologies by 17.9% in the third quarter. Crossmark Global Holdings Inc. now owns 5,605 shares of the technology company's stock worth $609,000 after acquiring an additional 852 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of BWX Technologies by 7.9% during the third quarter. Venturi Wealth Management LLC now owns 6,358 shares of the technology company's stock worth $691,000 after purchasing an additional 466 shares in the last quarter. 94.39% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at BWX Technologies

In other news, SVP Robert L. Duffy sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.03, for a total value of $624,180.00. Following the transaction, the senior vice president now directly owns 3,206 shares in the company, valued at approximately $333,520.18. This represents a 65.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rex D. Geveden sold 45,625 shares of BWX Technologies stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $107.40, for a total transaction of $4,900,125.00. Following the sale, the chief executive officer now owns 218,218 shares of the company's stock, valued at $23,436,613.20. The trade was a 17.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,625 shares of company stock worth $5,734,145 over the last 90 days. Company insiders own 0.47% of the company's stock.

BWX Technologies Trading Down 1.2 %

Shares of BWX Technologies stock traded down $1.19 on Thursday, reaching $96.88. The company had a trading volume of 590,063 shares, compared to its average volume of 716,045. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 32.08, a P/E/G 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. The firm's 50-day moving average price is $110.93 and its two-hundred day moving average price is $114.32. BWX Technologies, Inc. has a 1 year low of $86.70 and a 1 year high of $136.31.

BWX Technologies (NYSE:BWXT - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The technology company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.12. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The business had revenue of $746.27 million for the quarter, compared to analysts' expectations of $653.16 million. As a group, research analysts predict that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 1.03%. This is an increase from BWX Technologies's previous quarterly dividend of $0.24. BWX Technologies's dividend payout ratio (DPR) is presently 32.57%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of BWX Technologies from $90.00 to $105.00 and gave the stock an "underweight" rating in a research report on Monday, December 16th. Bank of America increased their price objective on shares of BWX Technologies from $115.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Truist Financial boosted their target price on BWX Technologies from $106.00 to $114.00 and gave the stock a "hold" rating in a research report on Tuesday, January 14th. Finally, Maxim Group raised their price target on BWX Technologies from $138.00 to $140.00 and gave the company a "buy" rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.50.

BWX Technologies Profile

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.