Commerce Bank Raises Position in BWX Technologies Inc (BWXT)

Commerce Bank boosted its holdings in BWX Technologies Inc (NYSE:BWXT) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,987 shares of the technology company’s stock after buying an additional 2,109 shares during the quarter. Commerce Bank’s holdings in BWX Technologies were worth $1,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BWXT. CENTRAL TRUST Co bought a new position in BWX Technologies in the 3rd quarter valued at approximately $100,000. Destination Wealth Management raised its holdings in BWX Technologies by 2,867.8% in the 2nd quarter. Destination Wealth Management now owns 1,751 shares of the technology company’s stock valued at $109,000 after buying an additional 1,692 shares during the last quarter. Fort L.P. bought a new position in BWX Technologies in the 2nd quarter valued at approximately $118,000. First Manhattan Co. bought a new position in BWX Technologies in the 3rd quarter valued at approximately $125,000. Finally, Point72 Hong Kong Ltd raised its holdings in BWX Technologies by 2,445.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,113 shares of the technology company’s stock valued at $132,000 after buying an additional 2,030 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

A number of brokerages recently issued reports on BWXT. Zacks Investment Research lowered shares of BWX Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. ValuEngine lowered shares of BWX Technologies from a “hold” rating to a “sell” rating in a report on Wednesday. SunTrust Banks lowered their price target on shares of BWX Technologies from $83.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday, August 21st. Bank of America lowered their price target on shares of BWX Technologies from $70.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Credit Suisse Group lowered their price target on shares of BWX Technologies from $60.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.38.

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

BWX Technologies stock opened at $47.29 on Friday. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.90 and a quick ratio of 2.88. BWX Technologies Inc has a 52-week low of $44.50 and a 52-week high of $72.18. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.84 and a beta of 0.58.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.22). BWX Technologies had a return on equity of 66.38% and a net margin of 10.81%. The firm had revenue of $425.50 million for the quarter, compared to the consensus estimate of $461.26 million. During the same quarter in the previous year, the business posted $0.46 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts forecast that BWX Technologies Inc will post 2.23 earnings per share for the current year.

The company 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 is Monday, November 19th. This represents a $0.64 annualized dividend and a yield of 1.35%. BWX Technologies’s payout ratio is 31.22%.

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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.

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Institutional Ownership by Quarter for BWX Technologies (NYSE:BWXT)

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