Nikko Asset Management Americas Inc. Makes New $31.32 Million Investment in BWX Technologies, Inc. (NYSE:BWXT)

Key Points

• Nikko Asset Management Americas Inc. has made a new investment of approximately $31.32 million in BWX Technologies by acquiring 317,468 shares, representing ownership of 0.35% of the company.
• BWX Technologies reported a strong earnings performance, with $0.91 earnings per share, surpassing analyst expectations of $0.73, alongside a revenue increase of 13.0% year-over-year.
• The company recently announced a dividend of $0.25 per share, translating to an annualized yield of 0.68% and a dividend payout ratio of 31.85%.

Nikko Asset Management Americas Inc. bought a new position in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 317,468 shares of the technology company's stock, valued at approximately $31,318,000. Nikko Asset Management Americas Inc. owned 0.35% of BWX Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new stake in BWX Technologies during the first quarter worth approximately $383,000. Synergy Asset Management LLC acquired a new position in shares of BWX Technologies in the 1st quarter valued at $296,000. Clear Creek Financial Management LLC purchased a new position in shares of BWX Technologies in the 1st quarter valued at $223,000. Artemis Investment Management LLP acquired a new stake in BWX Technologies during the 1st quarter worth $19,331,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in BWX Technologies by 343.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 33,063 shares of the technology company's stock valued at $3,262,000 after acquiring an additional 25,615 shares during the last quarter. Institutional investors and hedge funds own 94.39% of the company's stock.

Wall Street Analysts Forecast Growth

BWXT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $150.00 price objective (up previously from $119.00) on shares of BWX Technologies in a report on Tuesday, July 8th. CLSA restated an "outperform" rating and set a $177.60 price target (up previously from $153.00) on shares of BWX Technologies in a research note on Tuesday, May 27th. Maxim Group cut their price target on BWX Technologies from $140.00 to $136.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. William Blair restated an "outperform" rating on shares of BWX Technologies in a research note on Wednesday, June 18th. Finally, Wall Street Zen upgraded shares of BWX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.94.

BWX Technologies Stock Performance

Shares of NYSE:BWXT traded up $1.17 during midday trading on Wednesday, hitting $151.45. The stock had a trading volume of 369,946 shares, compared to its average volume of 1,087,644. The company has a market capitalization of $13.84 billion, a PE ratio of 48.23, a P/E/G ratio of 3.79 and a beta of 0.70. The stock has a 50 day moving average price of $135.52 and a two-hundred day moving average price of $116.76. 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, Inc. has a 1 year low of $84.21 and a 1 year high of $151.60.

BWX Technologies (NYSE:BWXT - Get Free Report) last issued its earnings results 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 business had revenue of $682.26 million during the quarter, compared to the consensus estimate of $644.15 million. BWX Technologies had a return on equity of 30.26% and a net margin of 10.39%. The company's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. As a group, equities analysts predict that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were given a dividend of $0.25 per share. The ex-dividend date was Monday, May 19th. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. BWX Technologies's payout ratio is currently 31.85%.

About BWX Technologies

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.