Abacus Planning Group Inc. Takes Position in BWX Technologies, Inc. $BWXT

Key Points

• Abacus Planning Group Inc. acquired 1,674 shares of BWX Technologies, Inc., valued at approximately $241,000, during the 2nd quarter of 2023.
• During the 1st quarter, several institutional investors made significant adjustments to their holdings in BWX Technologies, with National Bank of Canada FI increasing its stake by 369.7%.
• BWX Technologies reported $1.02 earnings per share for the last quarter, exceeding analysts' estimates and demonstrating a 12.1% year-over-year revenue growth.

Abacus Planning Group Inc. purchased a new position in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,674 shares of the technology company's stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in shares of BWX Technologies during the first quarter worth $31,000. Compass Financial Services Inc acquired a new position in BWX Technologies during the first quarter worth about $33,000. HHM Wealth Advisors LLC grew its stake in BWX Technologies by 34.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 390 shares of the technology company's stock valued at $38,000 after acquiring an additional 100 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in BWX Technologies by 109.6% in the 1st quarter. Farther Finance Advisors LLC now owns 459 shares of the technology company's stock valued at $46,000 after acquiring an additional 240 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of BWX Technologies by 369.7% during the 1st quarter. National Bank of Canada FI now owns 559 shares of the technology company's stock worth $55,000 after purchasing an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 94.39% of the company's stock.

Insider Transactions at BWX Technologies

In other BWX Technologies news, Director Leland D. Melvin sold 600 shares of BWX Technologies stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $178.26, for a total value of $106,956.00. Following the completion of the transaction, the director directly owned 5,579 shares of the company's stock, valued at $994,512.54. The trade was a 9.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Ronald Owen Whitford, Jr. sold 2,092 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $177.43, for a total transaction of $371,183.56. Following the sale, the senior vice president owned 10,149 shares in the company, valued at $1,800,737.07. This trade represents a 17.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,953 shares of company stock valued at $5,359,758. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BWXT shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $150.00 price objective (up previously from $119.00) on shares of BWX Technologies in a research report on Tuesday, July 8th. Bank of America raised their target price on BWX Technologies from $155.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Truist Financial set a $145.00 price target on shares of BWX Technologies and gave the company a "hold" rating in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of BWX Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of BWX Technologies in a research note on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.83.

BWX Technologies Stock Up 0.6%

Shares of BWXT opened at $186.82 on Friday. The company's 50-day moving average price is $169.73 and its 200 day moving average price is $137.18. BWX Technologies, Inc. has a 12-month low of $84.21 and a 12-month high of $190.01. The company has a current ratio of 1.69, a quick ratio of 1.60 and a debt-to-equity ratio of 1.28. The firm has a market cap of $17.08 billion, a P/E ratio of 58.38, a price-to-earnings-growth ratio of 4.21 and a beta of 0.78.

BWX Technologies (NYSE:BWXT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The technology company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.23. BWX Technologies had a net margin of 10.28% and a return on equity of 30.61%. The business had revenue of $764.00 million during the quarter, compared to analysts' expectations of $708.00 million. During the same period last year, the business earned $0.82 earnings per share. The business's revenue for the quarter was up 12.1% on a year-over-year basis. BWX Technologies has set its FY 2025 guidance at 3.650-3.750 EPS. On average, sell-side analysts forecast that BWX Technologies, Inc. will post 3.23 earnings per share for the current year.

BWX Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Monday, August 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 18th. BWX Technologies's dividend payout ratio (DPR) is currently 31.25%.

BWX Technologies 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.

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