State of Michigan Retirement System Has $2.09 Million Stake in BWX Technologies, Inc. (NYSE:BWXT)

State of Michigan Retirement System decreased its position in BWX Technologies, Inc. (NYSE:BWXT) by 2.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,000 shares of the technology company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in BWX Technologies were worth $2,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of BWX Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,735,898 shares of the technology company’s stock valued at $896,478,000 after buying an additional 58,680 shares during the period. Clearbridge Investments LLC boosted its stake in shares of BWX Technologies by 0.7% during the 4th quarter. Clearbridge Investments LLC now owns 1,357,980 shares of the technology company’s stock valued at $104,198,000 after buying an additional 10,068 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of BWX Technologies by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,048,456 shares of the technology company’s stock valued at $80,448,000 after buying an additional 7,782 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of BWX Technologies by 28.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 967,317 shares of the technology company’s stock valued at $74,222,000 after buying an additional 216,525 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of BWX Technologies by 1.4% during the 4th quarter. Fiera Capital Corp now owns 905,430 shares of the technology company’s stock valued at $69,474,000 after buying an additional 12,593 shares during the period. Institutional investors and hedge funds own 94.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BWXT shares. BTIG Research started coverage on shares of BWX Technologies in a research note on Wednesday, June 26th. They set a “buy” rating and a $110.00 target price for the company. Janney Montgomery Scott started coverage on shares of BWX Technologies in a research note on Thursday, June 27th. They set a “buy” rating and a $113.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of BWX Technologies from $112.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays downgraded shares of BWX Technologies from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $75.00 to $90.00 in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of BWX Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, BWX Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.57.

BWX Technologies Price Performance

NYSE:BWXT opened at $101.64 on Thursday. The firm has a market cap of $9.29 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.65 and a beta of 0.68. BWX Technologies, Inc. has a 12 month low of $71.55 and a 12 month high of $107.18. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average price is $97.85 and its two-hundred day moving average price is $95.50.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Monday, August 5th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. BWX Technologies had a net margin of 10.00% and a return on equity of 31.57%. The firm had revenue of $681.50 million for the quarter, compared to analyst estimates of $639.31 million. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that BWX Technologies, Inc. will post 3.19 EPS for the current fiscal year.

BWX Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, August 16th. BWX Technologies’s dividend payout ratio is presently 34.66%.

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.