Synovus Financial Corp Raises Position in BWX Technologies, Inc. $BWXT

Key Points

• Synovus Financial Corp increased its stake in BWX Technologies by 32.6% in Q1, now holding 24,249 shares valued at approximately $2.39 million.
• BWX Technologies reported Q2 EPS of $1.02, exceeding estimates by $0.23, with revenue of $764 million, a 12.1% increase year-over-year.
• The company will pay a quarterly dividend of $0.25 per share on September 5, representing a 0.6% yield and a payout ratio of 31.25%.

Synovus Financial Corp lifted its holdings in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,249 shares of the technology company's stock after purchasing an additional 5,964 shares during the period. Synovus Financial Corp's holdings in BWX Technologies were worth $2,392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Utah Retirement Systems grew its holdings in shares of BWX Technologies by 2.1% during the 4th quarter. Utah Retirement Systems now owns 4,900 shares of the technology company's stock valued at $546,000 after purchasing an additional 100 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of BWX Technologies by 34.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 390 shares of the technology company's stock valued at $38,000 after purchasing an additional 100 shares during the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of BWX Technologies by 6.0% during the 1st quarter. Gateway Investment Advisers LLC now owns 2,154 shares of the technology company's stock valued at $212,000 after purchasing an additional 121 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in BWX Technologies by 3.3% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 4,186 shares of the technology company's stock worth $413,000 after acquiring an additional 132 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in BWX Technologies by 2.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,136 shares of the technology company's stock worth $704,000 after acquiring an additional 141 shares during the last quarter. Institutional investors own 94.39% of the company's stock.

Insider Buying and Selling at BWX Technologies

In related news, SVP Ronald Owen Whitford, Jr. sold 2,092 shares of BWX Technologies stock in a transaction dated Monday, August 11th. The shares were 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 $1,800,737.07. This trade represents a 17.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rex D. Geveden sold 25,000 shares of BWX Technologies stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $179.00, for a total transaction of $4,475,000.00. Following the transaction, the chief executive officer directly owned 197,594 shares of the company's stock, valued at approximately $35,369,326. This trade represents a 11.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,953 shares of company stock valued at $5,359,758. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial set a $145.00 price target on shares of BWX Technologies and gave the stock a "hold" rating in a report on Tuesday, August 5th. Wall Street Zen lowered shares of BWX Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Bank of America raised their price target on shares of BWX Technologies from $155.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Maxim Group reissued a "hold" rating on shares of BWX Technologies in a report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $150.00 price target (up previously from $119.00) on shares of BWX Technologies in a report on Tuesday, July 8th. 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 given a Sell rating to the stock. According to MarketBeat.com, BWX Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $154.51.

BWX Technologies Trading Up 0.1%

Shares of NYSE:BWXT traded up $0.24 on Thursday, hitting $165.84. The company had a trading volume of 810,948 shares, compared to its average volume of 1,420,125. The firm's 50-day simple moving average is $153.63 and its two-hundred day simple moving average is $124.67. BWX Technologies, Inc. has a 1 year low of $84.21 and a 1 year high of $189.25. The company has a quick ratio of 1.60, a current ratio of 1.69 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $15.16 billion, a price-to-earnings ratio of 51.83, a P/E/G ratio of 3.75 and a beta of 0.73.

BWX Technologies (NYSE:BWXT - Get Free Report) last posted its earnings results 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 firm had revenue of $764.00 million during the quarter, compared to analysts' expectations of $708.00 million. During the same period last year, the company posted $0.82 EPS. The company's quarterly revenue was up 12.1% compared to the same quarter last year. BWX Technologies has set its FY 2025 guidance at 3.650-3.750 EPS. Equities analysts anticipate that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Announces Dividend

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

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.