Nicholas Investment Partners LP Purchases 8,039 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Nicholas Investment Partners LP boosted its position in BWX Technologies, Inc. (NYSE:BWXT) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 323,898 shares of the technology company’s stock after buying an additional 8,039 shares during the period. BWX Technologies makes up approximately 3.2% of Nicholas Investment Partners LP’s investment portfolio, making the stock its largest holding. Nicholas Investment Partners LP owned 0.35% of BWX Technologies worth $36,079,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BWXT. Demars Financial Group LLC raised its stake in shares of BWX Technologies by 9,309.0% during the 4th quarter. Demars Financial Group LLC now owns 4,482,439 shares of the technology company’s stock valued at $499,299,000 after buying an additional 4,434,799 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of BWX Technologies during the 4th quarter valued at approximately $69,730,000. Balyasny Asset Management L.P. lifted its holdings in BWX Technologies by 204.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 916,323 shares of the technology company’s stock valued at $102,069,000 after purchasing an additional 615,693 shares in the last quarter. Stephens Investment Management Group LLC acquired a new stake in BWX Technologies in the 4th quarter worth about $50,054,000. Finally, Van ECK Associates Corp lifted its position in shares of BWX Technologies by 46.7% in the fourth quarter. Van ECK Associates Corp now owns 1,408,736 shares of the technology company’s stock valued at $156,919,000 after acquiring an additional 448,467 shares in the last quarter. 94.39% of the stock is owned by hedge funds and other institutional investors.

BWX Technologies Stock Up 0.3%

Shares of BWXT opened at $107.40 on Wednesday. BWX Technologies, Inc. has a 1 year low of $84.21 and a 1 year high of $136.31. The company’s 50-day simple moving average is $102.56 and its 200-day simple moving average is $112.37. The stock has a market capitalization of $9.81 billion, a PE ratio of 35.56, a P/E/G ratio of 3.20 and a beta of 0.66. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.25 and a current ratio of 2.25.

BWX Technologies (NYSE:BWXT) last announced its quarterly earnings data on Monday, May 5th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18. The business had revenue of $682.26 million for the quarter, compared to analysts’ expectations of $644.15 million. BWX Technologies had a return on equity of 31.95% and a net margin of 10.32%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. Analysts forecast that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Monday, May 19th. BWX Technologies’s dividend payout ratio (DPR) is presently 31.85%.

Insider Activity

In other news, CEO Rex D. Geveden sold 45,625 shares of the company’s stock in a transaction on 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 owns 218,218 shares in the company, valued at approximately $23,436,613.20. This represents a 17.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $209,840.00. Following the sale, the senior vice president now owns 9,904 shares in the company, valued at $1,039,127.68. This represents a 16.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,625 shares of company stock worth $5,734,145. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on BWXT. Bank of America dropped their price objective on shares of BWX Technologies from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. Seaport Res Ptn raised shares of BWX Technologies to a “strong-buy” rating in a research report on Tuesday, April 1st. Truist Financial increased their price target on BWX Technologies from $106.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, January 14th. Finally, Maxim Group lowered their target price on shares of BWX Technologies from $140.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.88.

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.