Voloridge Investment Management LLC Invests $2.83 Million in BWX Technologies Inc (NYSE:BWXT)
Voloridge Investment Management LLC bought a new position in BWX Technologies Inc (NYSE:BWXT) during the third quarter, Holdings Channel reports. The firm bought 49,439 shares of the technology company’s stock, valued at approximately $2,828,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in BWX Technologies during the 2nd quarter worth approximately $30,000. NumerixS Investment Technologies Inc bought a new position in shares of BWX Technologies in the second quarter valued at approximately $31,000. Private Ocean LLC purchased a new position in shares of BWX Technologies during the third quarter valued at approximately $43,000. Selective Wealth Management Inc. purchased a new position in shares of BWX Technologies during the third quarter valued at approximately $57,000. Finally, Doyle Wealth Management bought a new stake in BWX Technologies during the second quarter worth $63,000.
In related news, insider Joel W. Duling sold 1,600 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $60.87, for a total value of $97,392.00. Following the transaction, the insider now directly owns 16,801 shares of the company’s stock, valued at approximately $1,022,676.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David S. Black sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $54.73, for a total transaction of $54,730.00. Following the completion of the transaction, the chief financial officer now directly owns 75,161 shares in the company, valued at $4,113,561.53. The disclosure for this sale can be found here. Insiders sold a total of 4,600 shares of company stock valued at $272,732 in the last 90 days. Corporate insiders own 0.44% of the company’s stock.
BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.14. The company had revenue of $506.00 million during the quarter, compared to the consensus estimate of $486.02 million. BWX Technologies had a return on equity of 90.98% and a net margin of 10.93%. BWX Technologies’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. As a group, research analysts expect that BWX Technologies Inc will post 2.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.68 dividend on an annualized basis and a yield of 1.15%. BWX Technologies’s dividend payout ratio (DPR) is presently 28.45%.
Several equities analysts have weighed in on BWXT shares. Zacks Investment Research cut BWX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. SunTrust Banks set a $55.00 target price on shares of BWX Technologies and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Maxim Group reiterated a “buy” rating and issued a $71.00 target price on shares of BWX Technologies in a report on Wednesday, August 7th. Barclays set a $55.00 target price on shares of BWX Technologies and gave the company a “sell” rating in a report on Tuesday, October 8th. Finally, ValuEngine lowered shares of BWX Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. BWX Technologies presently has an average rating of “Hold” and a consensus price target of $60.50.
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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