Essex Investment Management Co. LLC Decreases Position in BWX Technologies, Inc. (NYSE:BWXT)

Key Points

• Essex Investment Management Co. LLC reduced its holdings in BWX Technologies by 8.4%, owning 21,526 shares worth approximately $2.12 million after selling 1,986 shares in the first quarter.
• In recent analyst actions, companies like Seaport Res Ptn and CLSA have given BWXT shares upgrades, with a current average rating of "Moderate Buy" and a consensus price target of $137.94.
• BWX Technologies reported a net margin of 10.39% for the last quarter, exceeding earnings estimates and showing a year-over-year revenue increase of 13%.

Essex Investment Management Co. LLC reduced its position in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,526 shares of the technology company's stock after selling 1,986 shares during the period. Essex Investment Management Co. LLC's holdings in BWX Technologies were worth $2,124,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in shares of BWX Technologies in the fourth quarter worth $34,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of BWX Technologies by 200.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the technology company's stock worth $35,000 after purchasing an additional 236 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of BWX Technologies in the fourth quarter worth $40,000. Farther Finance Advisors LLC grew its stake in shares of BWX Technologies by 109.6% in the first quarter. Farther Finance Advisors LLC now owns 459 shares of the technology company's stock worth $46,000 after purchasing an additional 240 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of BWX Technologies by 194.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 632 shares of the technology company's stock worth $63,000 after purchasing an additional 417 shares during the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

BWX Technologies Stock Down 1.5%

Shares of BWXT stock traded down $2.26 on Friday, reaching $149.67. 983,326 shares of the company were exchanged, compared to its average volume of 1,091,242. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 47.72, a PEG ratio of 3.85 and a beta of 0.70. The company has a 50-day moving average of $138.10 and a 200-day moving average of $117.50. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.02 and a quick ratio of 1.91. BWX Technologies, Inc. has a one year low of $84.21 and a one year high of $153.53.

BWX Technologies (NYSE:BWXT - Get Free Report) last released 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. The company had revenue of $682.26 million for the quarter, compared to analysts' expectations of $644.15 million. BWX Technologies had a net margin of 10.39% and a return on equity of 30.26%. The business's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. Analysts anticipate that BWX Technologies, Inc. will post 3.23 earnings per share for the current 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, May 19th. BWX Technologies's dividend payout ratio is currently 31.85%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BWXT. CLSA reaffirmed an "outperform" rating and set a $177.60 price target (up previously from $153.00) on shares of BWX Technologies in a research report on Tuesday, May 27th. William Blair reaffirmed an "outperform" rating on shares of BWX Technologies in a research report on Wednesday, June 18th. Maxim Group cut their price target on shares of BWX Technologies from $140.00 to $136.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $150.00 price target (up previously from $119.00) on shares of BWX Technologies in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of BWX Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.94.

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.