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

Bowen Hanes & Co. Inc. bought a new stake in BWX Technologies, Inc. (NYSE:BWXT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 227,860 shares of the technology company’s stock, valued at approximately $25,381,000. Bowen Hanes & Co. Inc. owned approximately 0.25% of BWX Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC grew its position in BWX Technologies by 76.2% in the 3rd quarter. Stone House Investment Management LLC now owns 229 shares of the technology company’s stock valued at $25,000 after buying an additional 99 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in BWX Technologies in the 4th quarter valued at about $30,000. Quarry LP grew its position in BWX Technologies by 93.6% in the 3rd quarter. Quarry LP now owns 271 shares of the technology company’s stock valued at $29,000 after buying an additional 131 shares in the last quarter. HHM Wealth Advisors LLC grew its position in BWX Technologies by 45.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 290 shares of the technology company’s stock valued at $32,000 after buying an additional 90 shares in the last quarter. Finally, Principal Securities Inc. grew its position in BWX Technologies by 40.4% in the 4th quarter. Principal Securities Inc. now owns 316 shares of the technology company’s stock valued at $35,000 after buying an additional 91 shares in the last quarter. Institutional investors own 94.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BWXT shares. Barclays increased their target price on shares of BWX Technologies from $90.00 to $105.00 and gave the company an “underweight” rating in a research report on Monday, December 16th. Maxim Group raised their price objective on shares of BWX Technologies from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Truist Financial raised their price objective on shares of BWX Technologies from $106.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, January 14th. Finally, Bank of America raised their price objective on shares of BWX Technologies from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.50.

BWX Technologies Stock Up 1.4 %

BWXT stock opened at $98.28 on Thursday. The company’s 50 day simple moving average is $111.19 and its 200-day simple moving average is $114.44. BWX Technologies, Inc. has a 52-week low of $86.70 and a 52-week high of $136.31. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market capitalization of $8.99 billion, a P/E ratio of 32.54, a P/E/G ratio of 3.20 and a beta of 0.69.

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

BWX Technologies Increases Dividend

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

Insider Activity

In other news, SVP Robert L. Duffy sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.03, for a total transaction of $624,180.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rex D. Geveden sold 45,625 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 218,218 shares in the company, valued at $23,436,613.20. This trade represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,625 shares of company stock worth $5,734,145 in the last 90 days. Company insiders own 0.47% of the company’s stock.

BWX Technologies Company 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.