Envestnet Asset Management Inc. Boosts Stake in BWX Technologies, Inc. (NYSE:BWXT)

Envestnet Asset Management Inc. lifted its holdings in shares of BWX Technologies, Inc. (NYSE:BWXT) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 245,632 shares of the technology company’s stock after purchasing an additional 1,484 shares during the quarter. Envestnet Asset Management Inc.’s holdings in BWX Technologies were worth $27,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Narwhal Capital Management boosted its stake in BWX Technologies by 33.4% during the fourth quarter. Narwhal Capital Management now owns 20,979 shares of the technology company’s stock worth $2,337,000 after buying an additional 5,250 shares during the period. Geode Capital Management LLC boosted its position in shares of BWX Technologies by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,682,563 shares of the technology company’s stock worth $182,938,000 after purchasing an additional 26,130 shares during the period. Cadinha & Co. LLC increased its holdings in BWX Technologies by 469.2% in the 4th quarter. Cadinha & Co. LLC now owns 64,341 shares of the technology company’s stock valued at $7,167,000 after purchasing an additional 53,038 shares during the last quarter. Cooper Financial Group purchased a new stake in BWX Technologies in the fourth quarter valued at approximately $737,000. Finally, Strategic Planning Group LLC acquired a new position in BWX Technologies during the fourth quarter worth $3,005,000. 94.39% of the stock is owned by institutional investors and hedge funds.

BWX Technologies Price Performance

Shares of BWXT opened at $103.48 on Friday. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 3.20 and a beta of 0.67. The firm’s fifty day simple moving average is $102.33 and its 200-day simple moving average is $114.09. BWX Technologies, Inc. has a twelve month low of $84.21 and a twelve month high of $136.31. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.15.

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

BWX Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. This is an increase from BWX Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 11th. BWX Technologies’s dividend payout ratio is 32.57%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at BWX Technologies

In other BWX Technologies 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 $23,436,613.20. This represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robert L. Duffy sold 6,000 shares of BWX Technologies stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.03, for a total value of $624,180.00. Following the sale, the senior vice president now owns 3,206 shares in the company, valued at $333,520.18. This trade represents a 65.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,625 shares of company stock worth $5,734,145 over the last three months. Insiders own 0.47% of the company’s stock.

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.