Congress Asset Management Co. Acquires New Position in BWX Technologies, Inc. $BWXT

Key Points

• Congress Asset Management Co. acquired a new stake of 33,691 shares in BWX Technologies, valued at approximately $4.85 million, during the second quarter.
• BWX Technologies reported strong quarterly earnings of $1.02 EPS, exceeding analysts' expectations, with a revenue of $764 million, marking a year-over-year increase of 12.1%.
• Insider activity shows significant stock sales, with senior vice president Omar Fathi Meguid and Ronald Owen Whitford, Jr. selling shares, leading to a collective decrease of their holdings by around 48.92% and 17.09%, respectively.

Congress Asset Management Co. acquired a new stake in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 33,691 shares of the technology company's stock, valued at approximately $4,854,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Intrua Financial LLC grew its position in BWX Technologies by 3.9% during the first quarter. Intrua Financial LLC now owns 2,625 shares of the technology company's stock valued at $259,000 after purchasing an additional 99 shares in the last quarter. HHM Wealth Advisors LLC grew its position in BWX Technologies by 34.5% during the first quarter. HHM Wealth Advisors LLC now owns 390 shares of the technology company's stock valued at $38,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. grew its position in BWX Technologies by 12.7% during the second quarter. UMB Bank n.a. now owns 1,031 shares of the technology company's stock valued at $149,000 after purchasing an additional 116 shares in the last quarter. Gateway Investment Advisers LLC grew its position in BWX Technologies by 6.0% during the first quarter. Gateway Investment Advisers LLC now owns 2,154 shares of the technology company's stock valued at $212,000 after purchasing an additional 121 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its position in BWX Technologies by 3.3% during the first quarter. Mesirow Financial Investment Management Inc. now owns 4,186 shares of the technology company's stock valued at $413,000 after purchasing an additional 132 shares in the last quarter. 94.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BWX Technologies

In other BWX Technologies 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 sale, the senior vice president owned 2,361 shares of the company's stock, valued at $424,602.24. This represents a 48.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ronald Owen Whitford, Jr. sold 2,092 shares of the 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 directly owned 10,149 shares in the company, valued at approximately $1,800,737.07. This represents a 17.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,953 shares of company stock worth $5,359,758 in the last quarter. Insiders own 0.47% of the company's stock.

BWX Technologies Price Performance

NYSE:BWXT opened at $180.69 on Friday. The stock has a market cap of $16.51 billion, a P/E ratio of 56.47, a PEG ratio of 4.09 and a beta of 0.75. BWX Technologies, Inc. has a one year low of $84.21 and a one year high of $189.25. The company has a fifty day moving average price of $165.51 and a 200 day moving average price of $134.43. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.69 and a quick ratio of 1.60.

BWX Technologies (NYSE:BWXT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $1.02 earnings per share (EPS) 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 company had revenue of $764.00 million during the quarter, compared to analysts' expectations of $708.00 million. During the same quarter in the prior year, the company posted $0.82 EPS. The business'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 disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was 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 is currently 31.25%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America boosted their target price on shares of BWX Technologies from $155.00 to $220.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Maxim Group reissued a "hold" rating on shares of BWX Technologies in a research report on Wednesday, August 6th. Truist Financial set a $145.00 target price on shares of BWX Technologies and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of BWX Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Northland Securities assumed coverage on shares of BWX Technologies in a research report on Wednesday, September 10th. They issued an "outperform" rating and a $205.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.83.

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.

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