ARK Investment Management LLC Raises Stock Holdings in BWX Technologies, Inc. (NYSE:BWXT)

Key Points

• ARK Investment Management increased its stake in BWX Technologies by 28.3% in Q1, acquiring an additional 26,841 shares, bringing its total to 121,764 shares worth approximately $12 million.
• Several institutional investors significantly boosted their holdings in BWX Technologies, with Demars Financial Group increasing its position by a staggering 9,309%, acquiring over 4.4 million shares.
• BWX Technologies reported earnings of $0.91 per share for the last quarter, exceeding analyst expectations, and its revenue grew by 13% year-over-year, reaching $682.26 million.

ARK Investment Management LLC raised its stake in BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,764 shares of the technology company's stock after purchasing an additional 26,841 shares during the quarter. ARK Investment Management LLC owned 0.13% of BWX Technologies worth $12,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vontobel Holding Ltd. purchased a new stake in BWX Technologies in the first quarter worth $383,000. Synergy Asset Management LLC bought a new stake in shares of BWX Technologies during the 1st quarter valued at $296,000. Clear Creek Financial Management LLC purchased a new position in BWX Technologies during the first quarter worth about $223,000. Artemis Investment Management LLP purchased a new position in BWX Technologies during the first quarter worth about $19,331,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in BWX Technologies by 343.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 33,063 shares of the technology company's stock worth $3,262,000 after buying an additional 25,615 shares in the last quarter. 94.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. William Blair restated an "outperform" rating on shares of BWX Technologies in a research report on Wednesday, June 18th. 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. Wall Street Zen upgraded BWX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. 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. Finally, Maxim Group dropped their target price on BWX Technologies from $140.00 to $136.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.94.

BWX Technologies Stock Up 0.8%

Shares of BWX Technologies stock traded up $1.19 on Wednesday, reaching $151.47. The company's stock had a trading volume of 413,145 shares, compared to its average volume of 1,087,843. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of 48.27, a P/E/G ratio of 3.79 and a beta of 0.70. The firm's fifty day simple moving average is $135.52 and its two-hundred day simple moving average is $116.76. BWX Technologies, Inc. has a 52 week low of $84.21 and a 52 week high of $151.60. The company has a quick ratio of 1.91, a current ratio of 2.02 and a debt-to-equity ratio of 1.08.

BWX Technologies (NYSE:BWXT - Get Free Report) last released its quarterly 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 firm had revenue of $682.26 million for the quarter, compared to the consensus estimate of $644.15 million. BWX Technologies had a return on equity of 30.26% and a net margin of 10.39%. The company'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 EPS. Equities analysts anticipate that BWX Technologies, Inc. will post 3.23 earnings per share for the current year.

BWX Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. BWX Technologies's dividend payout ratio is currently 31.85%.

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.