BWX Technologies, Inc. $BWXT Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in BWX Technologies by 2.4%, owning about 0.11% of the company, valued at approximately $9.98 million as of the latest reporting.
• Multiple institutional investors increased their holdings in BWX Technologies, including Jump Financial LLC, which raised its stake by 901.4% during the 1st quarter.
• BWX Technologies reported a higher-than-expected EPS of $1.02 and a revenue of $764 million for the last quarter, exceeding analyst estimates.

Corebridge Financial Inc. cut its position in BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,207 shares of the technology company's stock after selling 2,476 shares during the period. Corebridge Financial Inc. owned 0.11% of BWX Technologies worth $9,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Connective Capital Management LLC boosted its stake in shares of BWX Technologies by 20.3% in the first quarter. Connective Capital Management LLC now owns 4,296 shares of the technology company's stock worth $424,000 after acquiring an additional 724 shares during the last quarter. Synovus Financial Corp boosted its stake in BWX Technologies by 32.6% during the first quarter. Synovus Financial Corp now owns 24,249 shares of the technology company's stock worth $2,392,000 after buying an additional 5,964 shares during the last quarter. Jump Financial LLC boosted its stake in BWX Technologies by 901.4% during the first quarter. Jump Financial LLC now owns 53,875 shares of the technology company's stock worth $5,315,000 after buying an additional 48,495 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in BWX Technologies by 56.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,339 shares of the technology company's stock worth $231,000 after buying an additional 841 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in BWX Technologies by 42.1% during the first quarter. AlphaQuest LLC now owns 7,485 shares of the technology company's stock worth $738,000 after buying an additional 2,217 shares during the last quarter. 94.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on BWXT. Maxim Group reissued a "hold" rating on shares of BWX Technologies in a research note on Wednesday, August 6th. CLSA reissued an "outperform" rating and set a $177.60 price objective (up previously from $153.00) on shares of BWX Technologies in a research note on Tuesday, May 27th. William Blair reissued an "outperform" rating on shares of BWX Technologies in a research note on Wednesday, June 18th. Truist Financial set a $145.00 target price on BWX Technologies and gave the company a "hold" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded BWX Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, BWX Technologies presently has an average rating of "Moderate Buy" and an average price target of $154.51.

BWX Technologies Trading Down 2.3%

Shares of BWXT stock traded down $3.90 on Monday, hitting $161.94. The stock had a trading volume of 847,318 shares, compared to its average volume of 1,389,134. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.69 and a quick ratio of 1.60. The firm has a market capitalization of $14.80 billion, a P/E ratio of 50.60, a P/E/G ratio of 3.67 and a beta of 0.75. BWX Technologies, Inc. has a 1 year low of $84.21 and a 1 year high of $189.25. The company's 50 day moving average price is $154.02 and its 200-day moving average price is $125.24.

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

BWX Technologies Dividend Announcement

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

Insider Buying and Selling

In other news, SVP Omar Fathi Meguid sold 2,261 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $179.84, for a total transaction of $406,618.24. Following the completion of the transaction, the senior vice president directly owned 2,361 shares of the company's stock, valued at approximately $424,602.24. This represents a 48.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rex D. Geveden sold 25,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was 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 approximately $35,369,326. This represents a 11.23% 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 quarter. Company insiders own 0.47% of the company's stock.

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.