VELA Investment Management LLC grew its holdings in shares of BWX Technologies, Inc. (NYSE:BWXT – Get Rating) by 12.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,959 shares of the technology company's stock after acquiring an additional 2,744 shares during the period. VELA Investment Management LLC's holdings in BWX Technologies were worth $1,344,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Herold Advisors Inc. acquired a new position in BWX Technologies in the first quarter worth about $48,000. Prospera Financial Services Inc acquired a new position in BWX Technologies in the first quarter worth about $57,000. Covestor Ltd acquired a new position in BWX Technologies in the fourth quarter worth about $54,000. ARK Investment Management LLC acquired a new position in BWX Technologies in the first quarter worth about $180,000. Finally, Comerica Bank acquired a new position in BWX Technologies in the first quarter worth about $202,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded BWX Technologies from a "hold" rating to a "buy" rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.00.
BWX Technologies Stock Performance
BWXT stock traded down $0.37 during midday trading on Tuesday, reaching $52.71. The company had a trading volume of 6,629 shares, compared to its average volume of 554,789. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.96. The stock has a 50 day moving average price of $54.57 and a 200 day moving average price of $52.73. BWX Technologies, Inc. has a fifty-two week low of $42.58 and a fifty-two week high of $62.53. The firm has a market capitalization of $4.81 billion, a PE ratio of 15.67, a P/E/G ratio of 2.53 and a beta of 0.77.
BWX Technologies (NYSE:BWXT – Get Rating) last released its quarterly earnings results on Monday, August 8th. The technology company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.09. The company had revenue of $554.00 million for the quarter, compared to analysts' expectations of $544.13 million. BWX Technologies had a return on equity of 46.29% and a net margin of 14.27%. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Analysts anticipate that BWX Technologies, Inc. will post 3.21 earnings per share for the current year.
BWX Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 19th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.67%. BWX Technologies's dividend payout ratio (DPR) is presently 26.27%.
About BWX Technologies
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BWX Technologies, Inc manufactures and sells nuclear components in the United States, Canada, and internationally. It operates in three segments: Nuclear Operations Group, Nuclear Power Group, and Nuclear Services Group. The Nuclear Operations Group segment provides precision naval and critical nuclear components, reactors, nuclear fuel, and assemblies for the United States Department of Energy/National Nuclear Security Administration's Naval Nuclear Propulsion Program and other uses; missile launch tubes for United States Navy submarines; close-tolerance and equipment for nuclear applications; and converts Cold War-era government stockpiles of high-enriched uranium, as well as receives, stores, characterizes, dissolves, recovers, and purifies uranium-bearing materials; supplies research reactor fuel elements for colleges, universities, and national laboratories; and components for defense applications.
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