Comerica Bank Cuts Stake in BWX Technologies, Inc. (NYSE:BWXT)

Comerica Bank reduced its position in BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,242 shares of the technology company's stock after selling 4,117 shares during the quarter. Comerica Bank's holdings in BWX Technologies were worth $4,148,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of BWXT. Retirement Wealth Solutions LLC bought a new stake in shares of BWX Technologies in the 4th quarter valued at $30,000. HHM Wealth Advisors LLC grew its holdings in BWX Technologies by 45.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 290 shares of the technology company's stock worth $32,000 after purchasing an additional 90 shares during the period. Principal Securities Inc. increased its stake in BWX Technologies by 40.4% in the fourth quarter. Principal Securities Inc. now owns 316 shares of the technology company's stock valued at $35,000 after purchasing an additional 91 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of BWX Technologies by 40.5% during the fourth quarter. V Square Quantitative Management LLC now owns 406 shares of the technology company's stock valued at $45,000 after purchasing an additional 117 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of BWX Technologies by 97.3% during the 4th quarter. UMB Bank n.a. now owns 507 shares of the technology company's stock worth $56,000 after purchasing an additional 250 shares in the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other BWX Technologies news, CEO Rex D. Geveden sold 45,625 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $107.40, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Ronald Owen Whitford, Jr. sold 2,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $104.92, for a total value of $209,840.00. Following the transaction, the senior vice president now directly owns 9,904 shares of the company's stock, valued at $1,039,127.68. The trade was a 16.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,625 shares of company stock valued at $5,734,145 over the last quarter. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on BWXT shares. Bank of America reduced their price objective on BWX Technologies from $160.00 to $135.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Seaport Res Ptn upgraded shares of BWX Technologies to a "strong-buy" rating in a report on Tuesday, April 1st. Truist Financial upped their target price on shares of BWX Technologies from $106.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, January 14th. Finally, Maxim Group dropped their price target on shares of BWX Technologies from $140.00 to $136.00 and set a "buy" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, BWX Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $123.88.

BWX Technologies Stock Performance

BWX Technologies stock traded up $0.51 during mid-day trading on Friday, reaching $108.46. 899,871 shares of the company's stock were exchanged, compared to its average volume of 793,907. The business's fifty day simple moving average is $102.36 and its 200 day simple moving average is $112.66. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.15. BWX Technologies, Inc. has a one year low of $84.21 and a one year high of $136.31. The firm has a market capitalization of $9.91 billion, a PE ratio of 35.91, a P/E/G ratio of 3.20 and a beta of 0.66.

BWX Technologies (NYSE:BWXT - Get Free Report) last released its earnings results on Monday, May 5th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.18. The business had revenue of $682.26 million during the quarter, compared to the consensus estimate of $644.15 million. BWX Technologies had a return on equity of 31.95% and a net margin of 10.32%. The business's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share. On average, sell-side analysts expect that BWX Technologies, Inc. will post 3.23 earnings per share for the current year.

BWX Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Monday, May 19th will be paid a $0.25 dividend. The ex-dividend date is Monday, May 19th. This represents a $1.00 annualized dividend and a dividend yield of 0.92%. BWX Technologies's payout ratio is 31.85%.

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.