Insight Capital Research & Management Inc. bought a new stake in BWX Technologies Inc. (NYSE:BWXT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 84,368 shares of the company’s stock, valued at approximately $3,018,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of BWX Technologies by 223.7% in the first quarter. JPMorgan Chase & Co. now owns 1,444,795 shares of the company’s stock valued at $48,488,000 after buying an additional 998,414 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of BWX Technologies by 390.5% in the first quarter. Renaissance Technologies LLC now owns 961,800 shares of the company’s stock valued at $32,278,000 after buying an additional 765,700 shares during the last quarter. Smith Asset Management Group LP increased its position in shares of BWX Technologies by 185.5% in the second quarter. Smith Asset Management Group LP now owns 1,075,650 shares of the company’s stock valued at $38,476,000 after buying an additional 698,920 shares during the last quarter. RS Investment Management Co. LLC purchased a new position in shares of BWX Technologies during the second quarter valued at approximately $24,074,000. Finally, Picton Mahoney Asset Management increased its position in shares of BWX Technologies by 171.8% in the first quarter. Picton Mahoney Asset Management now owns 281,712 shares of the company’s stock valued at $9,453,000 after buying an additional 178,068 shares during the last quarter. 94.36% of the stock is currently owned by institutional investors.
BWX Technologies Inc. (NYSE:BWXT) traded down 0.05% during mid-day trading on Friday, reaching $38.37. 494,713 shares of the company traded hands. The company’s 50 day moving average price is $38.88 and its 200 day moving average price is $35.78. BWX Technologies Inc. has a 12-month low of $25.90 and a 12-month high of $39.70. The firm has a market capitalization of $3.97 billion, a P/E ratio of 19.51 and a beta of 0.64.
BWX Technologies (NYSE:BWXT) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.06. BWX Technologies had a return on equity of 60.44% and a net margin of 14.07%. The business earned $402.38 million during the quarter, compared to the consensus estimate of $367.04 million. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts predict that BWX Technologies Inc. will post $1.66 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 22nd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. BWX Technologies’s dividend payout ratio is currently 18.27%.
Separately, Zacks Investment Research raised shares of BWX Technologies from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday, August 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.39.
In related news, SVP James D. Canafax sold 4,500 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $37.74, for a total transaction of $169,830.00. Following the sale, the senior vice president now owns 67,600 shares in the company, valued at approximately $2,551,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph G. Henry sold 16,032 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $39.28, for a total value of $629,736.96. Following the sale, the insider now owns 36,425 shares in the company, valued at approximately $1,430,774. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
BWX Technologies Company Profile
BWX Technologies, Inc, formerly The Babcock & Wilcox Company, 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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