King Luther Capital Management Corp Buys 14,669 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Key Points

• King Luther Capital Management Corp increased its stake in BWX Technologies, Inc. by 13.6% in the 1st quarter, acquiring an additional 14,669 shares and bringing its total holdings to 122,349 shares valued at approximately $12 million.
• CEO Rex D. Geveden sold 25,000 shares of BWX Technologies at an average price of $179.00, reducing his ownership by 11.23% and maintaining a total of about 197,594 shares.
• BWX Technologies declared a quarterly dividend of $0.25 per share, set to be paid on September 5th, with an annualized yield of 0.6%.

King Luther Capital Management Corp lifted its holdings in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,349 shares of the technology company's stock after purchasing an additional 14,669 shares during the quarter. King Luther Capital Management Corp owned 0.13% of BWX Technologies worth $12,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BWXT. Demars Financial Group LLC grew its holdings in BWX Technologies by 9,309.0% during the fourth 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 during the period. Westwood Holdings Group Inc. lifted its holdings in BWX Technologies by 279.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 958,563 shares of the technology company's stock worth $94,562,000 after purchasing an additional 705,648 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in 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 worth $102,069,000 after acquiring an additional 615,693 shares during the period. Blair William & Co. IL increased its stake in shares of BWX Technologies by 84.3% in the 1st quarter. Blair William & Co. IL now owns 782,991 shares of the technology company's stock valued at $77,242,000 after purchasing an additional 358,170 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in BWX Technologies by 248.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 453,680 shares of the technology company's stock valued at $50,537,000 after purchasing an additional 323,445 shares during the last quarter. Institutional investors and hedge funds own 94.39% of the company's stock.

Wall Street Analyst Weigh In

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

BWX Technologies Stock Performance

Shares of BWXT stock traded down $2.10 during trading on Thursday, hitting $174.66. The company's stock had a trading volume of 829,597 shares, compared to its average volume of 1,124,326. The business has a fifty day moving average of $146.79 and a 200-day moving average of $120.56. The company 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. BWX Technologies, Inc. has a 52 week low of $84.21 and a 52 week high of $189.25. The company has a current ratio of 1.69, a quick ratio of 1.60 and a debt-to-equity ratio of 1.28.

BWX Technologies (NYSE:BWXT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $1.02 EPS for the quarter, topping 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 business had revenue of $764.00 million for the quarter, compared to analyst estimates of $708.00 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts anticipate that BWX Technologies, Inc. will post 3.23 earnings per share for the current year.

BWX Technologies Announces Dividend

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

Insider Activity

In other news, SVP Omar Fathi Meguid sold 2,261 shares of BWX Technologies stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $179.84, for a total transaction of $406,618.24. Following the completion of the sale, the senior vice president owned 2,361 shares in the company, valued at approximately $424,602.24. This trade represents a 48.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ronald Owen Whitford, Jr. sold 2,092 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $177.43, for a total transaction of $371,183.56. Following the completion of the transaction, the senior vice president directly owned 10,149 shares of the company's stock, 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 have sold a total of 29,953 shares of company stock valued at $5,359,758 over the last ninety days. 0.47% of the stock is owned by insiders.

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.