Sit Investment Associates Inc. Invests $2.98 Million in BWX Technologies, Inc. $BWXT

Key Points

• Sit Investment Associates Inc. invested approximately $2.98 million in BWX Technologies, Inc., purchasing 30,175 shares during the first quarter.
• Analysts have given BWX Technologies an average rating of "Moderate Buy" with a price target of $154.51, with recent upgrades from firms like Bank of America increasing its price objective from $155.00 to $220.00.
• BWX Technologies announced a $0.25 quarterly dividend, with an annualized yield of 0.6%, to be paid to shareholders on September 5th.

Sit Investment Associates Inc. bought a new position in BWX Technologies, Inc. (NYSE:BWXT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 30,175 shares of the technology company's stock, valued at approximately $2,977,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in shares of BWX Technologies by 28.8% in the 1st quarter. Russell Investments Group Ltd. now owns 91,034 shares of the technology company's stock worth $8,981,000 after purchasing an additional 20,348 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of BWX Technologies in the 1st quarter worth $31,000. Nuveen LLC bought a new stake in shares of BWX Technologies in the 1st quarter worth $25,446,000. Aigen Investment Management LP increased its holdings in shares of BWX Technologies by 13.8% in the 1st quarter. Aigen Investment Management LP now owns 3,956 shares of the technology company's stock worth $390,000 after purchasing an additional 480 shares in the last quarter. Finally, King Luther Capital Management Corp increased its holdings in shares of BWX Technologies by 13.6% in the 1st quarter. King Luther Capital Management Corp now owns 122,349 shares of the technology company's stock worth $12,070,000 after purchasing an additional 14,669 shares in the last quarter. Institutional investors own 94.39% of the company's stock.

Insiders Place Their Bets

In other news, Director Leland D. Melvin sold 600 shares of the business's 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 directly owned 5,579 shares in the company, valued at $994,512.54. The trade was a 9.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ronald Owen Whitford, Jr. sold 2,092 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $177.43, for a total value of $371,183.56. Following the completion of the transaction, the senior vice president owned 10,149 shares in the company, valued at $1,800,737.07. The trade was a 17.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,953 shares of company stock valued at $5,359,758 over the last three months. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

BWXT has been the topic of a number of research reports. William Blair restated an "outperform" rating on shares of BWX Technologies in a research note on Wednesday, June 18th. CLSA restated an "outperform" rating and issued a $177.60 price target (up from $153.00) on shares of BWX Technologies in a research note on Tuesday, May 27th. Truist Financial set a $145.00 price target on BWX Technologies and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Bank of America raised their price target on BWX Technologies from $155.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Maxim Group restated a "hold" rating on shares of BWX Technologies in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $154.51.

BWX Technologies Stock Performance

NYSE BWXT traded down $1.5120 on Wednesday, hitting $164.2480. 594,273 shares of the company traded hands, compared to its average volume of 1,129,241. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 51.32, a P/E/G ratio of 3.87 and a beta of 0.73. 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 business's 50 day moving average price is $150.02 and its 200-day moving average price is $122.24. BWX Technologies, Inc. has a 52-week low of $84.21 and a 52-week high of $189.25.

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. The company had revenue of $764.00 million for the quarter, compared to the consensus estimate of $708.00 million. BWX Technologies had a return on equity of 30.61% and a net margin of 10.28%.BWX Technologies's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. BWX Technologies has set its FY 2025 guidance at 3.650-3.750 EPS. Equities analysts expect that BWX Technologies, Inc. will post 3.23 earnings per share for the current year.

BWX Technologies Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, August 18th. BWX Technologies's payout ratio is presently 31.25%.

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.