BWX Technologies, Inc. (NYSE:BWXT) Shares Sold by Synovus Financial Corp

Synovus Financial Corp decreased its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 17.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,285 shares of the technology company’s stock after selling 3,964 shares during the quarter. Synovus Financial Corp’s holdings in BWX Technologies were worth $2,037,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Philadelphia Trust Co. raised its stake in shares of BWX Technologies by 0.6% during the 4th quarter. Philadelphia Trust Co. now owns 179,461 shares of the technology company’s stock worth $19,990,000 after buying an additional 1,041 shares during the period. Rockefeller Capital Management L.P. raised its position in BWX Technologies by 8.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 21,527 shares of the technology company’s stock worth $2,398,000 after acquiring an additional 1,636 shares during the period. Sterling Capital Management LLC lifted its holdings in BWX Technologies by 48.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,601 shares of the technology company’s stock valued at $513,000 after purchasing an additional 1,496 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of BWX Technologies by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 40,085 shares of the technology company’s stock valued at $4,465,000 after purchasing an additional 250 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of BWX Technologies by 41.1% during the fourth quarter. Renaissance Technologies LLC now owns 187,900 shares of the technology company’s stock worth $20,930,000 after purchasing an additional 54,700 shares in the last quarter. Hedge funds and other institutional investors own 94.39% of the company’s stock.

BWX Technologies Trading Up 0.2 %

Shares of BWXT opened at $104.04 on Wednesday. BWX Technologies, Inc. has a 12-month low of $84.21 and a 12-month high of $136.31. The firm has a market capitalization of $9.51 billion, a P/E ratio of 34.45, a P/E/G ratio of 3.20 and a beta of 0.67. The firm has a 50-day moving average price of $101.97 and a 200 day moving average price of $114.04. 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 posted its quarterly 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. The business had revenue of $746.27 million during the quarter, compared to analysts’ expectations of $653.16 million. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. Sell-side analysts forecast 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 was paid on Friday, March 28th. Shareholders of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. This is an increase from BWX Technologies’s previous quarterly dividend of $0.24. BWX Technologies’s payout ratio is currently 32.57%.

Insider Activity

In other news, SVP Ronald Owen Whitford, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $104.92, for a total value 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. The trade was a 16.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rex D. Geveden sold 45,625 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $107.40, for a total transaction of $4,900,125.00. Following the completion of the transaction, the chief executive officer now owns 218,218 shares in the company, valued at approximately $23,436,613.20. This represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,625 shares of company stock valued at $5,734,145 in the last quarter. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BWXT has been the topic of several research analyst reports. Maxim Group lifted their price objective on BWX Technologies from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Bank of America dropped their price target 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. Truist Financial increased 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. Finally, Seaport Res Ptn raised shares of BWX Technologies to a “strong-buy” rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.38.

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.