Bowen Hanes & Co. Inc. Takes $25.38 Million Position in BWX Technologies, Inc. (NYSE:BWXT)

Bowen Hanes & Co. Inc. acquired a new position in BWX Technologies, Inc. (NYSE:BWXT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 227,860 shares of the technology company’s stock, valued at approximately $25,381,000.

Several other hedge funds have also recently bought and sold shares of the business. Narwhal Capital Management raised its holdings in BWX Technologies by 33.4% during the fourth quarter. Narwhal Capital Management now owns 20,979 shares of the technology company’s stock valued at $2,337,000 after buying an additional 5,250 shares in the last quarter. Geode Capital Management LLC raised its holdings in BWX Technologies by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,682,563 shares of the technology company’s stock valued at $182,938,000 after buying an additional 26,130 shares in the last quarter. Cadinha & Co. LLC raised its holdings in BWX Technologies by 469.2% during the fourth quarter. Cadinha & Co. LLC now owns 64,341 shares of the technology company’s stock valued at $7,167,000 after buying an additional 53,038 shares in the last quarter. Cooper Financial Group bought a new position in BWX Technologies during the fourth quarter valued at about $737,000. Finally, Strategic Planning Group LLC bought a new position in BWX Technologies during the fourth quarter valued at about $3,005,000. 94.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BWXT. Truist Financial lifted their price objective on BWX Technologies from $106.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, January 14th. Barclays lifted their price objective on BWX Technologies from $90.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, December 16th. Bank of America lifted their price objective on BWX Technologies from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Maxim Group lifted their price objective on BWX Technologies from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

BWX Technologies Trading Up 1.4 %

Shares of BWXT opened at $98.28 on Thursday. BWX Technologies, Inc. has a 12-month low of $86.70 and a 12-month high of $136.31. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 3.20 and a beta of 0.69. The stock’s 50-day moving average price is $111.19 and its 200 day moving average price is $114.44.

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

BWX Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. This is an increase from BWX Technologies’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, March 11th. BWX Technologies’s payout ratio is presently 32.57%.

Insider Buying and Selling at BWX Technologies

In other BWX Technologies news, CEO Rex D. Geveden sold 45,625 shares of BWX Technologies stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 directly owns 218,218 shares of the company’s stock, valued at approximately $23,436,613.20. The trade was a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert L. Duffy sold 6,000 shares of BWX Technologies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.03, for a total value of $624,180.00. Following the sale, the senior vice president now directly owns 3,206 shares in the company, valued at $333,520.18. The trade was a 65.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,625 shares of company stock valued at $5,734,145. 0.47% of the stock is currently owned by corporate insiders.

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.