Envestnet Asset Management Inc. Sells 26,325 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Envestnet Asset Management Inc. cut its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 10.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 228,757 shares of the technology company’s stock after selling 26,325 shares during the quarter. Envestnet Asset Management Inc.’s holdings in BWX Technologies were worth $21,732,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BWXT. Meeder Asset Management Inc. acquired a new position in shares of BWX Technologies during the 2nd quarter worth approximately $2,382,000. Nicholas Investment Partners LP grew its position in BWX Technologies by 0.6% during the second quarter. Nicholas Investment Partners LP now owns 305,096 shares of the technology company’s stock worth $28,984,000 after buying an additional 1,713 shares in the last quarter. PFG Advisors grew its position in BWX Technologies by 2.8% during the second quarter. PFG Advisors now owns 10,329 shares of the technology company’s stock worth $981,000 after buying an additional 280 shares in the last quarter. BOKF NA increased its stake in BWX Technologies by 56.3% during the 2nd quarter. BOKF NA now owns 36,095 shares of the technology company’s stock worth $3,429,000 after acquiring an additional 13,000 shares during the period. Finally, Pecaut & CO. raised its holdings in BWX Technologies by 20.7% in the 2nd quarter. Pecaut & CO. now owns 10,135 shares of the technology company’s stock valued at $963,000 after acquiring an additional 1,735 shares in the last quarter. 94.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BWXT has been the topic of a number of recent analyst reports. Janney Montgomery Scott started coverage on BWX Technologies in a research report on Thursday, June 27th. They issued a “buy” rating and a $113.00 price target on the stock. CLSA started coverage on shares of BWX Technologies in a report on Monday, June 3rd. They issued a “buy” rating on the stock. Barclays downgraded shares of BWX Technologies from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $75.00 to $90.00 in a report on Wednesday, July 24th. StockNews.com upgraded shares of BWX Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BWX Technologies from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. One research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.57.

BWX Technologies Stock Up 4.9 %

Shares of BWXT opened at $102.84 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.23 and a current ratio of 2.23. BWX Technologies, Inc. has a 52 week low of $72.14 and a 52 week high of $107.18. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 3.51 and a beta of 0.71. The stock has a fifty day moving average of $99.13 and a 200-day moving average of $96.22.

BWX Technologies (NYSE:BWXT) last posted its earnings results on Monday, August 5th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. The firm had revenue of $681.50 million during the quarter, compared to the consensus estimate of $639.31 million. BWX Technologies had a return on equity of 31.93% and a net margin of 10.29%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. As a group, sell-side analysts anticipate that BWX Technologies, Inc. will post 3.2 earnings per share for the current fiscal year.

BWX Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Friday, August 16th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Friday, August 16th. BWX Technologies’s payout ratio is 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.