Point72 Asset Management L.P. Takes $23.09 Million Position in BWX Technologies, Inc. (NYSE:BWXT)

Point72 Asset Management L.P. purchased a new stake in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 207,305 shares of the technology company's stock, valued at approximately $23,092,000. Point72 Asset Management L.P. owned 0.23% of BWX Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BWXT. Demars Financial Group LLC raised its position in shares of BWX Technologies by 9,309.0% during the 4th 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of BWX Technologies during the 4th quarter worth approximately $69,730,000. Balyasny Asset Management L.P. raised its position in shares of 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 purchasing an additional 615,693 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in shares of BWX Technologies during the 4th quarter worth approximately $50,054,000. Finally, Van ECK Associates Corp raised its position in shares of BWX Technologies by 46.7% during the 4th quarter. Van ECK Associates Corp now owns 1,408,736 shares of the technology company's stock worth $156,919,000 after purchasing an additional 448,467 shares during the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

BWX Technologies Stock Up 0.8%

BWXT stock opened at $109.74 on Friday. The stock has a market capitalization of $10.03 billion, a P/E ratio of 36.34, a PEG ratio of 3.20 and a beta of 0.66. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.25 and a current ratio of 2.25. BWX Technologies, Inc. has a one year low of $84.21 and a one year high of $136.31. The company has a 50 day moving average price of $103.21 and a two-hundred day moving average price of $112.12.

BWX Technologies (NYSE:BWXT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The company had revenue of $682.26 million during the quarter, compared to analysts' expectations of $644.15 million. During the same period in the previous year, the company earned $0.76 EPS. The business's quarterly revenue was up 13.0% compared to the same quarter last year. As a group, sell-side analysts expect that BWX Technologies, Inc. will post 3.23 EPS for the current year.

BWX Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. BWX Technologies's dividend payout ratio is presently 31.85%.

Insider Activity

In related news, CEO Rex D. Geveden sold 45,625 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $107.40, for a total transaction of $4,900,125.00. Following the completion of the sale, the chief executive officer now directly owns 218,218 shares of the company's stock, valued at approximately $23,436,613.20. This represents a 17.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ronald Owen Whitford, Jr. sold 2,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $104.92, for a total transaction of $209,840.00. Following the sale, the senior vice president now directly owns 9,904 shares of the company's stock, valued at approximately $1,039,127.68. This trade represents a 16.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,625 shares of company stock valued at $5,734,145 in the last ninety days. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

BWXT has been the subject of several research reports. Bank of America cut their price objective on BWX Technologies from $160.00 to $135.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. Seaport Res Ptn upgraded BWX Technologies to a "strong-buy" rating in a research report on Tuesday, April 1st. Finally, Maxim Group cut their price objective on BWX Technologies from $140.00 to $136.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.88.

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.

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