BWX Technologies (BWXT) Lowered to Hold at SunTrust Banks

SunTrust Banks cut shares of BWX Technologies (NYSE:BWXT) from a buy rating to a hold rating in a report released on Wednesday, Marketbeat.com reports. The firm currently has $48.00 price objective on the technology company’s stock, down from their prior price objective of $79.00.

Separately, Zacks Investment Research downgraded BWX Technologies from a hold rating to a sell rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $62.38.

NYSE BWXT traded up $0.64 on Wednesday, reaching $46.90. The company had a trading volume of 129,221 shares, compared to its average volume of 469,053. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.14 and a beta of 0.58. BWX Technologies has a fifty-two week low of $44.50 and a fifty-two week high of $72.18. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 1.72.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.22). The company had revenue of $425.50 million during the quarter, compared to analyst estimates of $461.26 million. BWX Technologies had a net margin of 10.81% and a return on equity of 68.96%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. Research analysts expect that BWX Technologies will post 2.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. BWX Technologies’s payout ratio is currently 31.22%.

In other BWX Technologies news, VP Jason S. Kerr sold 1,365 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $64.06, for a total transaction of $87,441.90. Following the completion of the sale, the vice president now directly owns 9,132 shares in the company, valued at approximately $584,995.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David S. Black sold 1,000 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $62.40, for a total value of $62,400.00. Following the sale, the chief financial officer now owns 70,570 shares of the company’s stock, valued at $4,403,568. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,365 shares of company stock valued at $269,062. Company insiders own 0.76% of the company’s stock.

A number of institutional investors have recently modified their holdings of BWXT. Frontier Capital Management Co. LLC acquired a new stake in BWX Technologies during the 2nd quarter worth about $56,761,000. Baird Financial Group Inc. bought a new position in shares of BWX Technologies during the 2nd quarter worth about $32,951,000. Victory Capital Management Inc. boosted its position in shares of BWX Technologies by 56.8% during the 3rd quarter. Victory Capital Management Inc. now owns 651,362 shares of the technology company’s stock worth $40,736,000 after purchasing an additional 236,074 shares in the last quarter. BlackRock Inc. boosted its position in shares of BWX Technologies by 2.8% during the 2nd quarter. BlackRock Inc. now owns 5,959,698 shares of the technology company’s stock worth $371,407,000 after purchasing an additional 162,958 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of BWX Technologies by 16.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,077,946 shares of the technology company’s stock worth $67,179,000 after purchasing an additional 155,995 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

About BWX Technologies

BWX Technologies, Inc manufactures and sells nuclear components to the United States government. The company operates in three segments: Nuclear Operations, Technical Services, and Nuclear Energy. The Nuclear Operations segment offers precision naval nuclear components and reactors; close-tolerance and equipment for nuclear applications; and components for defense applications, as well as critical nuclear components, fuels, and assemblies for government and other uses.

Further Reading: Hedge Funds Explained

Analyst Recommendations for BWX Technologies (NYSE:BWXT)

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