Jennison Associates LLC Decreases Stake in BWX Technologies, Inc. (NYSE:BWXT)

Jennison Associates LLC lowered its stake in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 308,106 shares of the technology company's stock after selling 7,411 shares during the period. Jennison Associates LLC owned approximately 0.34% of BWX Technologies worth $30,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BWXT. Demars Financial Group LLC lifted its holdings in shares of BWX Technologies by 9,309.0% in the fourth quarter. Demars Financial Group LLC now owns 4,482,439 shares of the technology company's stock valued at $499,299,000 after purchasing an additional 4,434,799 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in BWX Technologies by 204.8% in 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 acquiring an additional 615,693 shares in the last quarter. Blair William & Co. IL boosted its position in BWX Technologies by 949.0% during the 4th quarter. Blair William & Co. IL now owns 424,821 shares of the technology company's stock worth $47,321,000 after acquiring an additional 384,323 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in BWX Technologies by 248.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 453,680 shares of the technology company's stock worth $50,537,000 after acquiring an additional 323,445 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in BWX Technologies by 6,116.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 323,326 shares of the technology company's stock worth $31,896,000 after acquiring an additional 318,125 shares during the last quarter. Institutional investors own 94.39% of the company's stock.

BWX Technologies Price Performance

Shares of BWX Technologies stock traded down $0.25 during trading on Tuesday, hitting $140.11. The stock had a trading volume of 434,295 shares, compared to its average volume of 937,021. BWX Technologies, Inc. has a 12 month low of $84.21 and a 12 month high of $145.33. The business's 50-day moving average is $131.21 and its 200 day moving average is $115.51. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 44.53, a P/E/G ratio of 3.61 and a beta of 0.70. The company has a current ratio of 2.02, a quick ratio of 1.91 and a debt-to-equity ratio of 1.08.

BWX Technologies (NYSE:BWXT - Get Free Report) last posted its earnings results on Monday, May 5th. The technology company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.18. BWX Technologies had a net margin of 10.39% and a return on equity of 30.26%. The company had revenue of $682.26 million during the quarter, compared to analyst estimates of $644.15 million. During the same period in the prior year, the business posted $0.76 earnings per share. BWX Technologies's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that BWX Technologies, Inc. will post 3.23 earnings per share for the current year.

BWX Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Monday, May 19th. BWX Technologies's payout ratio is 31.85%.

Analyst Ratings Changes

Several research firms have issued reports on BWXT. William Blair restated an "outperform" rating on shares of BWX Technologies in a research note on Wednesday, June 18th. Wall Street Zen upgraded BWX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Bank of America dropped their price objective on BWX Technologies from $160.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Maxim Group dropped their price objective on BWX Technologies from $140.00 to $136.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $150.00 price objective (up previously from $119.00) on shares of BWX Technologies in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.