BWX Technologies, Inc. (NYSE:BWXT) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 136,529 shares of the technology company’s stock after selling 9,044 shares during the period. Legal & General Group Plc’s holdings in BWX Technologies were worth $15,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aristides Capital LLC boosted its position in shares of BWX Technologies by 12.1% in the fourth quarter. Aristides Capital LLC now owns 23,540 shares of the technology company’s stock worth $2,622,000 after acquiring an additional 2,540 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in BWX Technologies by 0.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 245,632 shares of the technology company’s stock worth $27,361,000 after purchasing an additional 1,484 shares during the period. Huntington National Bank boosted its holdings in shares of BWX Technologies by 13.9% in the 4th quarter. Huntington National Bank now owns 1,647 shares of the technology company’s stock valued at $183,000 after purchasing an additional 201 shares during the last quarter. Trexquant Investment LP grew its stake in shares of BWX Technologies by 172.8% during the 4th quarter. Trexquant Investment LP now owns 75,624 shares of the technology company’s stock valued at $8,424,000 after buying an additional 47,900 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of BWX Technologies by 8.5% during the 4th quarter. Franklin Resources Inc. now owns 2,315,671 shares of the technology company’s stock worth $257,943,000 after buying an additional 182,311 shares during the last quarter. Hedge funds and other institutional investors own 94.39% of the company’s stock.

Insider Activity

In other BWX Technologies news, SVP Ronald Owen Whitford, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred 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 owns 9,904 shares in the company, valued at $1,039,127.68. This represents a 16.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rex D. Geveden sold 45,625 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $107.40, for a total value of $4,900,125.00. Following the transaction, the chief executive officer now directly owns 218,218 shares in the company, valued at approximately $23,436,613.20. This represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 53,625 shares of company stock worth $5,734,145. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Seaport Res Ptn upgraded BWX Technologies to a “strong-buy” rating in a report on Tuesday, April 1st. Truist Financial lifted their price objective on BWX Technologies from $106.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. Maxim Group increased their target price on shares of BWX Technologies from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Bank of America reduced their price target on shares of BWX Technologies from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. Finally, Barclays increased their price objective on shares of BWX Technologies from $90.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, BWX Technologies has an average rating of “Moderate Buy” and an average price target of $124.38.

BWX Technologies Price Performance

Shares of BWXT stock opened at $103.96 on Tuesday. BWX Technologies, Inc. has a twelve month low of $84.21 and a twelve month high of $136.31. The company has a market capitalization of $9.50 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 3.20 and a beta of 0.67. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.15. The firm has a fifty day simple moving average of $102.15 and a 200-day simple moving average of $114.11.

BWX Technologies (NYSE:BWXT) last announced its earnings results on Monday, February 24th. The technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.12. BWX Technologies had a return on equity of 31.95% and a net margin of 10.32%. The company had revenue of $746.27 million during the quarter, compared to the consensus estimate of $653.16 million. Equities research analysts anticipate that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 11th. BWX Technologies’s dividend payout ratio is presently 32.57%.

BWX Technologies 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.