Legal & General Group Plc Trims Stake in BWX Technologies, Inc. (NYSE:BWXT)

Legal & General Group Plc lessened its position in shares of BWX Technologies, Inc. (NYSE:BWXT) by 6.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,529 shares of the technology company’s stock after selling 9,044 shares during the quarter. Legal & General Group Plc owned about 0.15% of BWX Technologies worth $15,208,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BWXT. Raymond James Financial Inc. purchased a new position in shares of BWX Technologies during the fourth quarter worth about $69,730,000. Stephens Investment Management Group LLC purchased a new position in shares of BWX Technologies in the 4th quarter valued at approximately $50,054,000. Van ECK Associates Corp increased its holdings 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 purchasing an additional 448,467 shares during the period. Blair William & Co. IL raised its stake in shares of BWX Technologies by 949.0% during the fourth quarter. Blair William & Co. IL now owns 424,821 shares of the technology company’s stock worth $47,321,000 after purchasing an additional 384,323 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of BWX Technologies by 137.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 471,260 shares of the technology company’s stock worth $52,494,000 after purchasing an additional 273,030 shares during the period. Institutional investors and hedge funds own 94.39% of the company’s stock.

Insider Transactions at BWX Technologies

In related news, CEO Rex D. Geveden sold 45,625 shares of the stock in a transaction 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 owns 218,218 shares of the company’s stock, valued at $23,436,613.20. This trade represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert L. Duffy sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.03, for a total transaction of $624,180.00. Following the completion of the transaction, the senior vice president now directly owns 3,206 shares of the company’s stock, valued at $333,520.18. The trade was a 65.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,625 shares of company stock valued at $5,734,145 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BWXT shares. Bank of America dropped their price objective on shares of BWX Technologies from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Seaport Res Ptn raised shares of BWX Technologies to a “strong-buy” rating in a report on Tuesday, April 1st. Barclays lifted their price objective on BWX Technologies from $90.00 to $105.00 and gave the company an “underweight” rating in a report on Monday, December 16th. Maxim Group increased their target price on BWX Technologies from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Truist Financial lifted their price target on BWX Technologies from $106.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.38.

BWX Technologies Stock Performance

Shares of BWXT stock opened at $103.96 on Tuesday. The stock has a fifty day moving average price of $102.15 and a 200 day moving average price of $114.11. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.25 and a current ratio of 2.25. The stock has a market cap of $9.50 billion, a PE ratio of 34.42, a P/E/G ratio of 3.20 and a beta of 0.67. BWX Technologies, Inc. has a 1 year low of $84.21 and a 1 year high of $136.31.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Monday, February 24th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.12. The business had revenue of $746.27 million during the quarter, compared to the consensus estimate of $653.16 million. BWX Technologies had a return on equity of 31.95% and a net margin of 10.32%. Sell-side analysts forecast that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. BWX Technologies’s dividend payout ratio is currently 32.57%.

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.