BWX Technologies, Inc. (NYSE:BWXT) Position Cut by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,683 shares of the technology company’s stock after selling 4,642 shares during the quarter. Corebridge Financial Inc. owned 0.11% of BWX Technologies worth $11,549,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Commerce Bank bought a new stake in shares of BWX Technologies during the third quarter valued at about $235,000. Advisors Asset Management Inc. increased its stake in BWX Technologies by 10.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,673 shares of the technology company’s stock valued at $725,000 after buying an additional 637 shares during the period. Citigroup Inc. raised its position in shares of BWX Technologies by 40.4% during the 3rd quarter. Citigroup Inc. now owns 108,637 shares of the technology company’s stock worth $11,809,000 after buying an additional 31,246 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of BWX Technologies by 69.2% in the 3rd quarter. Cerity Partners LLC now owns 21,703 shares of the technology company’s stock worth $2,359,000 after acquiring an additional 8,876 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of BWX Technologies in the third quarter valued at approximately $1,032,000. Institutional investors own 94.39% of the company’s stock.

Insider Activity

In other news, SVP Robert L. Duffy sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.03, for a total transaction of $624,180.00. Following the transaction, the senior vice president now directly owns 3,206 shares in the company, valued at $333,520.18. The trade was a 65.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rex D. Geveden sold 45,625 shares of BWX Technologies stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $107.40, for a total value of $4,900,125.00. Following the sale, the chief executive officer now directly owns 218,218 shares of the company’s stock, valued at approximately $23,436,613.20. The trade was a 17.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,625 shares of company stock worth $5,734,145. 0.47% of the stock is owned by corporate insiders.

BWX Technologies Price Performance

NYSE BWXT opened at $104.85 on Wednesday. BWX Technologies, Inc. has a 1 year low of $86.70 and a 1 year high of $136.31. The stock’s 50-day moving average price is $108.44 and its two-hundred day moving average price is $114.43. The company has a market cap of $9.58 billion, a PE ratio of 34.72, a PEG ratio of 3.20 and a beta of 0.69. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.15.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Monday, February 24th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.12. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The business had revenue of $746.27 million for the quarter, compared to analyst estimates of $653.16 million. On average, analysts predict that BWX Technologies, Inc. will post 3.23 EPS for the current year.

BWX Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from BWX Technologies’s previous quarterly dividend of $0.24. BWX Technologies’s dividend payout ratio (DPR) is 32.57%.

Analyst Ratings Changes

Several equities research analysts recently commented on BWXT shares. Barclays boosted their target price on BWX Technologies from $90.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, December 16th. Maxim Group lifted their price target on BWX Technologies from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Truist Financial upped their price objective on BWX Technologies from $106.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, BWX Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

BWX Technologies Company 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.