Covea Finance Reduces Stake in BWX Technologies, Inc. (NYSE:BWXT)

Covea Finance trimmed its stake in BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,292 shares of the technology company's stock after selling 22,008 shares during the quarter. Covea Finance owned approximately 0.12% of BWX Technologies worth $10,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of BWX Technologies by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 9,211,924 shares of the technology company's stock valued at $1,026,116,000 after buying an additional 202,917 shares in the last quarter. Demars Financial Group LLC lifted its stake in shares of 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 valued at $499,299,000 after buying an additional 4,434,799 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of BWX Technologies by 8.5% during the 4th quarter. Franklin Resources Inc. now owns 2,315,671 shares of the technology company's stock valued at $257,943,000 after buying an additional 182,311 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of BWX Technologies by 19.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,379,779 shares of the technology company's stock valued at $153,694,000 after buying an additional 228,413 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in shares of BWX Technologies by 204.8% during the 4th 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 currently owned by hedge funds and other institutional investors.

BWX Technologies Stock Performance

BWX Technologies stock opened at $142.29 on Friday. The firm's fifty day moving average price is $117.53 and its 200-day moving average price is $112.27. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.91 and a current ratio of 2.02. The stock has a market cap of $13.00 billion, a P/E ratio of 45.32, a price-to-earnings-growth ratio of 3.53 and a beta of 0.66. BWX Technologies, Inc. has a fifty-two week low of $84.21 and a fifty-two week high of $145.33.

BWX Technologies (NYSE:BWXT - Get Free Report) last posted its quarterly earnings data 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. BWX Technologies had a return on equity of 30.26% and a net margin of 10.39%. The firm had revenue of $682.26 million during the quarter, compared to analysts' expectations of $644.15 million. During the same period in the prior year, the business earned $0.76 EPS. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts expect that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Monday, May 19th. BWX Technologies's dividend payout ratio is currently 31.85%.

Analyst Upgrades and Downgrades

BWXT has been the topic of a number of recent research reports. William Blair restated an "outperform" rating on shares of BWX Technologies in a research note on Wednesday. Wall Street Zen cut shares of BWX Technologies from a "buy" rating to a "hold" rating in a research note on Saturday. Bank of America lowered their target price on shares of BWX Technologies from $160.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. CLSA reiterated an "outperform" rating and issued a $177.60 target price (up from $153.00) on shares of BWX Technologies in a research note on Tuesday, May 27th. Finally, Maxim Group lowered their target price on shares of BWX Technologies from $140.00 to $136.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BWX Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $129.84.

BWX Technologies Company 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.

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