BWX Technologies, Inc. $BWXT Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in shares of BWX Technologies, Inc. (NYSE:BWXT) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,202 shares of the technology company’s stock after selling 22,187 shares during the quarter. King Luther Capital Management Corp’s holdings in BWX Technologies were worth $32,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of BWX Technologies in the 2nd quarter valued at approximately $2,359,895,000. First Trust Advisors LP boosted its stake in BWX Technologies by 12.2% during the 1st quarter. First Trust Advisors LP now owns 1,391,079 shares of the technology company’s stock worth $284,462,000 after acquiring an additional 151,580 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in BWX Technologies by 8.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,283,997 shares of the technology company’s stock worth $262,565,000 after acquiring an additional 99,053 shares during the last quarter. Bank of America Corp DE grew its holdings in BWX Technologies by 5.5% during the first quarter. Bank of America Corp DE now owns 1,005,621 shares of the technology company’s stock valued at $205,639,000 after purchasing an additional 52,413 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in BWX Technologies during the second quarter valued at approximately $183,211,000. 94.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BNP Paribas Exane lowered their target price on shares of BWX Technologies from $190.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, September 24th. Guggenheim reissued a “buy” rating and set a $192.00 price target on shares of BWX Technologies in a research report on Wednesday, September 30th. Truist Financial lowered their price objective on shares of BWX Technologies from $202.00 to $182.00 and set a “hold” rating for the company in a research report on Tuesday, October 6th. BTIG Research restated a “buy” rating and issued a $235.00 price objective on shares of BWX Technologies in a research report on Wednesday, September 30th. Finally, Wells Fargo & Company raised BWX Technologies from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $200.00 to $170.00 in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, BWX Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

BWX Technologies Price Performance

Shares of BWXT opened at $125.60 on Thursday. The stock has a 50 day simple moving average of $138.85 and a 200 day simple moving average of $181.41. BWX Technologies, Inc. has a 52-week low of $112.54 and a 52-week high of $241.82. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.84 and a current ratio of 1.88. The firm has a market capitalization of $11.51 billion, a PE ratio of 30.78, a P/E/G ratio of 1.87 and a beta of 0.75.

BWX Technologies (NYSE:BWXT) last announced its quarterly earnings results on Monday, November 2nd. The technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $952.97 million for the quarter, compared to analyst estimates of $970.52 million. BWX Technologies had a net margin of 10.41% and a return on equity of 31.65%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Sell-side analysts predict that BWX Technologies, Inc. will post 4.76 EPS for the current fiscal year.

BWX Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, November 19th. BWX Technologies’s dividend payout ratio (DPR) is presently 26.47%.

BWX Technologies Profile

BWX Technologies, Inc. (NYSE: BWXT) is a supplier of nuclear components, fuel and services for government and commercial customers. Its work includes designing and manufacturing nuclear reactors and related equipment for the U.S. Navy’s nuclear-powered fleet, as well as providing engineering, maintenance and other services to government nuclear programs. Through its commercial operations, BWXT supplies components and services for nuclear power plants and supports activities such as nuclear facility decommissioning and waste management.