Comerica Bank Reduces Stock Position in BWX Technologies, Inc. $BWXT

Key Points

• Comerica Bank has reduced its stake in BWX Technologies by 8.1%, now holding 34,216 shares worth approximately $3.375 million.
• Recent insider transactions included the sale of shares by Director Leland D. Melvin and SVP Ronald Owen Whitford, Jr., reflecting a combined 17.09% to 9.71% decrease in their positions.
• BWX Technologies reported earnings of $1.02 per share for the last quarter, exceeding analysts' expectations and showing 12.1% year-over-year revenue growth.

Comerica Bank lessened its stake in BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,216 shares of the technology company's stock after selling 3,026 shares during the period. Comerica Bank's holdings in BWX Technologies were worth $3,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in BWX Technologies in the fourth quarter valued at $34,000. Stone House Investment Management LLC acquired a new position in BWX Technologies in the first quarter valued at $31,000. MassMutual Private Wealth & Trust FSB boosted its stake in BWX Technologies by 200.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the technology company's stock valued at $35,000 after acquiring an additional 236 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in BWX Technologies in the fourth quarter valued at $40,000. Finally, HHM Wealth Advisors LLC boosted its stake in BWX Technologies by 34.5% in the first 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. Institutional investors and hedge funds own 94.39% of the company's stock.

Insider Activity

In related news, Director Leland D. Melvin sold 600 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $178.26, for a total value of $106,956.00. Following the completion of the sale, the director owned 5,579 shares in the company, valued at $994,512.54. This trade represents a 9.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ronald Owen Whitford, Jr. sold 2,092 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $177.43, for a total transaction of $371,183.56. Following the completion of the transaction, the senior vice president directly owned 10,149 shares of the company's stock, valued at approximately $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. Insiders have sold 29,953 shares of company stock worth $5,359,758 in the last three months. 0.47% of the stock is currently owned by company insiders.

BWX Technologies Stock Performance

NYSE:BWXT traded up $0.60 during mid-day trading on Wednesday, reaching $160.63. The stock had a trading volume of 1,015,006 shares, compared to its average volume of 1,126,825. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.60 and a current ratio of 1.69. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 50.20, a PEG ratio of 3.67 and a beta of 0.75. BWX Technologies, Inc. has a twelve month low of $84.21 and a twelve month high of $189.25. The business has a 50 day simple moving average of $154.77 and a 200 day simple moving average of $125.87.

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

BWX Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 18th will be given a $0.25 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. BWX Technologies's dividend payout ratio (DPR) is presently 31.25%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial set a $145.00 price objective on shares of BWX Technologies and gave the company a "hold" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $150.00 target price (up previously from $119.00) on shares of BWX Technologies in a research note on Tuesday, July 8th. Bank of America increased their target price on shares of BWX Technologies from $155.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Maxim Group reiterated a "hold" rating on shares of BWX Technologies in a research note on Wednesday, August 6th. Finally, William Blair reiterated an "outperform" rating on shares of BWX Technologies in a research note on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $154.51.

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.