Vestcor Inc Reduces Position in BWX Technologies, Inc. (NYSE:BWXT)

Vestcor Inc lessened its stake in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 82.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,640 shares of the technology company's stock after selling 7,809 shares during the quarter. Vestcor Inc's holdings in BWX Technologies were worth $178,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Stone House Investment Management LLC raised its holdings in shares of BWX Technologies by 76.2% in the third quarter. Stone House Investment Management LLC now owns 229 shares of the technology company's stock valued at $25,000 after buying an additional 99 shares during the last quarter. Quent Capital LLC grew its stake in shares of BWX Technologies by 147.6% in the 3rd quarter. Quent Capital LLC now owns 255 shares of the technology company's stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of BWX Technologies by 729.0% in the third quarter. UMB Bank n.a. now owns 257 shares of the technology company's stock valued at $28,000 after purchasing an additional 226 shares during the period. Quarry LP grew its position in BWX Technologies by 93.6% in the 3rd quarter. Quarry LP now owns 271 shares of the technology company's stock valued at $29,000 after buying an additional 131 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in BWX Technologies during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 94.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BWXT shares. Alembic Global Advisors upgraded shares of BWX Technologies from a "neutral" rating to an "overweight" rating and set a $148.00 price objective for the company in a research report on Tuesday, November 12th. Bank of America upped their price target on shares of BWX Technologies from $115.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BWX Technologies from $129.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Truist Financial raised their target price on shares of BWX Technologies from $95.00 to $106.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. Finally, StockNews.com cut BWX Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.43.

BWX Technologies Trading Down 1.4 %

BWXT stock traded down $1.74 during midday trading on Friday, reaching $120.91. 734,948 shares of the company's stock traded hands, compared to its average volume of 649,756. 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, Inc. has a fifty-two week low of $74.69 and a fifty-two week high of $136.31. The business has a 50-day moving average price of $124.75 and a two-hundred day moving average price of $107.36. The company has a market capitalization of $11.06 billion, a P/E ratio of 40.04, a PEG ratio of 4.12 and a beta of 0.70.

BWX Technologies (NYSE:BWXT - Get Free Report) last posted its earnings results on Monday, November 4th. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The business had revenue of $672.00 million for the quarter, compared to analyst estimates of $658.84 million. During the same quarter in the previous year, the business posted $0.67 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts forecast that BWX Technologies, Inc. will post 3.23 EPS for the current fiscal year.

BWX Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. BWX Technologies's payout ratio is currently 31.79%.

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.