BWX Technologies, Inc. (NYSE:BWXT) Stake Lowered by Cerity Partners LLC

Posted by Defense World Staff on Sep 7th, 2023

Cerity Partners LLC cut its stake in shares of BWX Technologies, Inc. (NYSE:BWXT – Free Report) by 19.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,625 shares of the technology company’s stock after selling 1,595 shares during the quarter. Cerity Partners LLC’s holdings in BWX Technologies were worth $417,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new position in shares of BWX Technologies during the fourth quarter valued at approximately $25,000. Lazard Asset Management LLC bought a new position in BWX Technologies in the 1st quarter worth approximately $38,000. Parallel Advisors LLC grew its holdings in BWX Technologies by 2,280.5% in the 1st quarter. Parallel Advisors LLC now owns 976 shares of the technology company’s stock worth $62,000 after buying an additional 935 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in BWX Technologies in the 4th quarter worth approximately $88,000. Finally, Bessemer Group Inc. bought a new position in BWX Technologies in the 1st quarter worth approximately $107,000. 96.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BWXT has been the subject of a number of recent analyst reports. Barclays increased their price objective on BWX Technologies from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. StockNews.com initiated coverage on BWX Technologies in a report on Thursday, August 17th. They issued a “hold” rating for the company. Maxim Group increased their price objective on BWX Technologies from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, August 7th. Bank of America increased their price objective on BWX Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Truist Financial increased their price objective on BWX Technologies from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.17.

View Our Latest Stock Report on BWX Technologies

Insider Activity

In other news, Director Gerhard F. Burbach sold 1,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.07, for a total transaction of $74,070.00. Following the completion of the sale, the director now owns 1,391 shares in the company, valued at approximately $103,031.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BWX Technologies news, Director Robert L. Nardelli bought 2,000 shares of BWX Technologies stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $71.23 per share, for a total transaction of $142,460.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $142,460. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gerhard F. Burbach sold 1,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.07, for a total value of $74,070.00. Following the completion of the sale, the director now owns 1,391 shares of the company’s stock, valued at approximately $103,031.37. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

BWX Technologies Stock Performance

BWXT opened at $72.24 on Thursday. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 4.13 and a beta of 0.84. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.41 and a quick ratio of 2.41. BWX Technologies, Inc. has a 1-year low of $49.13 and a 1-year high of $76.26. The business has a 50 day moving average price of $71.59 and a two-hundred day moving average price of $66.65.

BWX Technologies (NYSE:BWXT – Get Free Report) last released its earnings results on Thursday, August 3rd. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. BWX Technologies had a return on equity of 35.25% and a net margin of 9.63%. The firm had revenue of $612.40 million during the quarter, compared to the consensus estimate of $558.25 million. During the same period in the prior year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts predict that BWX Technologies, Inc. will post 2.96 EPS for the current fiscal year.

BWX Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 17th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. BWX Technologies’s dividend payout ratio (DPR) is presently 37.55%.

BWX Technologies Profile

(Free Report)

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; undertakes fabrication activities for missile launch tubes for U.S.