LPL Financial LLC Sells 6,922 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Key Points

• LPL Financial LLC has reduced its stake in BWX Technologies by 12.7%, selling 6,922 shares and now holds a total of 47,630 shares valued at approximately $4.7 million.
• BWX Technologies reported strong earnings, posting $1.02 earnings per share for the last quarter, surpassing analyst expectations, with revenue increasing 12.1% year-over-year.
• A quarterly dividend of $0.25 per share was announced, reflecting a 0.6% yield and indicating a dividend payout ratio of 31.25%.

LPL Financial LLC lessened its holdings in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 12.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,630 shares of the technology company's stock after selling 6,922 shares during the period. LPL Financial LLC owned 0.05% of BWX Technologies worth $4,699,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. MRP Capital Investments LLC grew its holdings in shares of BWX Technologies by 0.9% during the first quarter. MRP Capital Investments LLC now owns 16,204 shares of the technology company's stock worth $1,598,000 after purchasing an additional 151 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of BWX Technologies by 28.3% during the first quarter. ARK Investment Management LLC now owns 121,764 shares of the technology company's stock worth $12,012,000 after purchasing an additional 26,841 shares during the last quarter. HB Wealth Management LLC bought a new stake in shares of BWX Technologies during the first quarter worth $353,000. TD Asset Management Inc grew its holdings in shares of BWX Technologies by 25.4% during the first quarter. TD Asset Management Inc now owns 343,600 shares of the technology company's stock worth $33,896,000 after purchasing an additional 69,600 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new position in shares of BWX Technologies during the first quarter valued at $31,318,000. Institutional investors own 94.39% of the company's stock.

Analyst Ratings Changes

BWXT has been the subject of a number of research reports. CLSA reiterated an "outperform" rating and issued a $177.60 price objective (up from $153.00) on shares of BWX Technologies in a research report on Tuesday, May 27th. William Blair restated an "outperform" rating on shares of BWX Technologies in a research report on Wednesday, June 18th. Truist Financial set a $145.00 target price on shares of BWX Technologies and gave the company a "hold" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $150.00 target price (up from $119.00) on shares of BWX Technologies in a research report on Tuesday, July 8th. Finally, Maxim Group restated a "hold" rating on shares of BWX Technologies in a research report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $154.51.

BWX Technologies Trading Down 1.4%

NYSE:BWXT opened at $177.04 on Thursday. BWX Technologies, Inc. has a 1-year low of $84.21 and a 1-year high of $189.25. The business's 50-day moving average price is $146.79 and its two-hundred day moving average price is $120.56. The company has a current ratio of 1.69, a quick ratio of 1.60 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 55.33, a PEG ratio of 4.26 and a beta of 0.73.

BWX Technologies (NYSE:BWXT - Get Free Report) last released its earnings results on Monday, August 4th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.23. BWX Technologies had a return on equity of 30.61% and a net margin of 10.28%. The firm had revenue of $764.00 million for the quarter, compared to analyst estimates of $708.00 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company's quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that BWX Technologies, Inc. will post 3.23 earnings per share for the current year.

BWX Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.00 annualized dividend and a yield of 0.6%. BWX Technologies's dividend payout ratio is presently 31.25%.

Insider Buying and Selling

In other BWX Technologies news, Director Leland D. Melvin sold 600 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $178.26, for a total value of $106,956.00. Following the transaction, the director owned 5,579 shares of the company's stock, valued at approximately $994,512.54. This represents a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rex D. Geveden sold 25,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $179.00, for a total value of $4,475,000.00. Following the completion of the transaction, the chief executive officer directly owned 197,594 shares in the company, valued at $35,369,326. The trade was a 11.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,953 shares of company stock worth $5,359,758. Corporate insiders own 0.47% of the company's stock.

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.

Want to see what other hedge funds are holding BWXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BWX Technologies, Inc. (NYSE:BWXT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.