Virtu Financial LLC Sells 11,790 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Key Points

• Virtu Financial LLC reduced its stake in BWX Technologies by 51.4% during the first quarter, selling nearly 12,000 shares, which left them with shares worth approximately $1.1 million.
• Several other institutional investors, including Barclays PLC and Renaissance Technologies LLC, made significant adjustments to their holdings, indicating strong institutional interest in the company.
• BWX Technologies recently declared a quarterly dividend of $0.25 per share, with an annual yield of 0.6%, reflecting a payout ratio of 31.25%.

Virtu Financial LLC reduced its holdings in BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 51.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,156 shares of the technology company's stock after selling 11,790 shares during the period. Virtu Financial LLC's holdings in BWX Technologies were worth $1,101,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of BWX Technologies by 2.1% in the first quarter. Vanguard Group Inc. now owns 9,404,287 shares of the technology company's stock worth $927,733,000 after acquiring an additional 192,363 shares in the last quarter. Demars Financial Group LLC increased its stake in BWX Technologies by 9,309.0% during the 4th quarter. Demars Financial Group LLC now owns 4,482,439 shares of the technology company's stock worth $499,299,000 after purchasing an additional 4,434,799 shares in the last quarter. Bessemer Group Inc. raised its holdings in BWX Technologies by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 1,038,223 shares of the technology company's stock worth $102,419,000 after buying an additional 16,262 shares during the period. Westwood Holdings Group Inc. lifted its stake in BWX Technologies by 279.0% in the first quarter. Westwood Holdings Group Inc. now owns 958,563 shares of the technology company's stock valued at $94,562,000 after buying an additional 705,648 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in BWX Technologies by 204.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 916,323 shares of the technology company's stock valued at $102,069,000 after buying an additional 615,693 shares in the last quarter. 94.39% of the stock is owned by institutional investors.

BWX Technologies Price Performance

Shares of BWX Technologies stock traded down $2.10 on Thursday, reaching $174.66. 837,715 shares of the stock were exchanged, compared to its average volume of 1,124,378. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.60 and a current ratio of 1.69. BWX Technologies, Inc. has a one year low of $84.21 and a one year high of $189.25. The firm has a market cap of $15.96 billion, a PE ratio of 54.58, a P/E/G ratio of 4.26 and a beta of 0.73. The firm's 50 day moving average is $146.79 and its 200-day moving average is $120.56.

BWX Technologies (NYSE:BWXT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.23. BWX Technologies had a net margin of 10.28% and a return on equity of 30.61%. The company had revenue of $764.00 million during the quarter, compared to analyst estimates of $708.00 million. During the same quarter in the previous year, the business posted $0.82 EPS. BWX Technologies's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that BWX Technologies, Inc. will post 3.23 EPS for the current fiscal year.

BWX Technologies Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Omar Fathi Meguid sold 2,261 shares of the stock in a transaction dated Wednesday, August 6th. The shares were 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 owned 2,361 shares in the company, valued at approximately $424,602.24. This represents a 48.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $106,956.00. Following the completion of the sale, the director directly owned 5,579 shares in the company, valued at approximately $994,512.54. This represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,953 shares of company stock valued at $5,359,758. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BWXT. Truist Financial set a $145.00 price objective on shares of BWX Technologies and gave the stock a "hold" rating in a report on Tuesday, August 5th. Bank of America boosted their price target on BWX Technologies from $155.00 to $220.00 and gave the company a "buy" rating in a report on Wednesday. CLSA reiterated an "outperform" rating and set a $177.60 price objective (up from $153.00) on shares of BWX Technologies in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $150.00 target price (up previously from $119.00) on shares of BWX Technologies in a research note on Tuesday, July 8th. Finally, William Blair reaffirmed an "outperform" rating on shares of BWX Technologies in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BWX Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $154.51.

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.