Rex D. Geveden Sells 25,000 Shares of BWX Technologies, Inc. (NYSE:BWXT) Stock

Key Points

• CEO Rex D. Geveden sold 25,000 shares of BWX Technologies at an average price of $179.00, totaling approximately $4.48 million, resulting in an 11.23% decrease in his ownership.
• BWX Technologies reported quarterly earnings of $1.02 per share, surpassing estimates, with a revenue of $764 million, reflecting a 12.1% year-over-year increase.
• The company declared a quarterly dividend of $0.25, with a 0.6% dividend yield and a payout ratio of 31.25%, payable on September 5th.

BWX Technologies, Inc. (NYSE:BWXT - Get Free Report) CEO Rex D. Geveden sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $179.00, for a total value of $4,475,000.00. Following the transaction, the chief executive officer directly owned 197,594 shares of the company's stock, valued at $35,369,326. The trade was a 11.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BWX Technologies Trading Down 1.7%

NYSE:BWXT traded down $3.00 during trading hours on Wednesday, reaching $176.51. 267,410 shares of the stock were exchanged, compared to its average volume of 1,118,209. The company has a quick ratio of 1.60, a current ratio of 1.69 and a debt-to-equity ratio of 1.28. The business has a 50-day moving average of $145.83 and a two-hundred day moving average of $120.17. BWX Technologies, Inc. has a twelve month low of $84.21 and a twelve month high of $189.25. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 55.12, a PEG ratio of 4.16 and a beta of 0.73.

BWX Technologies (NYSE:BWXT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.23. BWX Technologies had a return on equity of 30.61% and a net margin of 10.28%. The business had revenue of $764.00 million for the quarter, compared to analyst estimates of $708.00 million. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company's revenue was up 12.1% on a year-over-year basis. On average, equities analysts predict that BWX Technologies, Inc. will post 3.23 EPS for the current year.

BWX Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. BWX Technologies's dividend payout ratio is currently 31.25%.

Institutional Trading of BWX Technologies

A number of large investors have recently modified their holdings of the stock. Portland Investment Counsel Inc. raised its stake in BWX Technologies by 7.7% in the second quarter. Portland Investment Counsel Inc. now owns 7,000 shares of the technology company's stock valued at $1,002,000 after buying an additional 500 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new position in shares of BWX Technologies in the 2nd quarter valued at about $2,369,000. Korea Investment CORP increased its holdings in shares of BWX Technologies by 43.4% in the 2nd quarter. Korea Investment CORP now owns 30,332 shares of the technology company's stock valued at $4,370,000 after acquiring an additional 9,183 shares during the last quarter. Atika Capital Management LLC increased its holdings in shares of BWX Technologies by 95.9% in the 2nd quarter. Atika Capital Management LLC now owns 210,400 shares of the technology company's stock valued at $30,310,000 after acquiring an additional 103,000 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of BWX Technologies in the 2nd quarter valued at about $93,000. Hedge funds and other institutional investors own 94.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BWXT shares. Truist Financial set a $145.00 price objective on BWX Technologies and gave the company a "hold" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $150.00 price objective (up from $119.00) on shares of BWX Technologies in a report on Tuesday, July 8th. Maxim Group reiterated a "hold" rating on shares of BWX Technologies in a report on Wednesday, August 6th. Wall Street Zen cut BWX Technologies from a "buy" rating to a "hold" rating in a report on Saturday. Finally, CLSA reiterated an "outperform" rating and issued a $177.60 price objective (up from $153.00) on shares of BWX Technologies in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.37.

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.