Magnetar Financial LLC Takes $1.98 Million Position in BWX Technologies, Inc. (NYSE:BWXT)

Magnetar Financial LLC bought a new position in BWX Technologies, Inc. (NYSE:BWXT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,885 shares of the technology company’s stock, valued at approximately $1,984,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in shares of BWX Technologies by 11,107.7% during the first quarter. Bessemer Group Inc. now owns 834,973 shares of the technology company’s stock worth $85,684,000 after purchasing an additional 827,523 shares during the period. Thrivent Financial for Lutherans grew its position in shares of BWX Technologies by 1,121.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 578,068 shares of the technology company’s stock worth $54,916,000 after buying an additional 530,749 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of BWX Technologies during the first quarter valued at approximately $42,106,000. Sapient Capital LLC bought a new position in shares of BWX Technologies during the second quarter valued at approximately $29,408,000. Finally, Van ECK Associates Corp lifted its stake in BWX Technologies by 79.1% in the second quarter. Van ECK Associates Corp now owns 641,671 shares of the technology company’s stock worth $60,958,000 after acquiring an additional 283,472 shares during the period. 94.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BWXT. BTIG Research started coverage on shares of BWX Technologies in a research note on Wednesday, June 26th. They issued a “buy” rating and a $110.00 price target for the company. StockNews.com upgraded BWX Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Barclays downgraded shares of BWX Technologies from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $75.00 to $90.00 in a research report on Wednesday, July 24th. Janney Montgomery Scott began 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. Finally, CLSA began coverage on BWX Technologies in a research note on Monday, June 3rd. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.57.

BWX Technologies Stock Performance

NYSE:BWXT opened at $105.66 on Tuesday. BWX Technologies, Inc. has a 52-week low of $72.14 and a 52-week high of $107.40. The firm has a market capitalization of $9.66 billion, a PE ratio of 38.14, a P/E/G ratio of 3.51 and a beta of 0.71. The stock has a 50-day simple moving average of $99.27 and a two-hundred day simple moving average of $96.22. 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 (NYSE:BWXT) last announced its quarterly earnings data on Monday, August 5th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The business had revenue of $681.50 million during the quarter, compared to analyst estimates of $639.31 million. BWX Technologies had a net margin of 10.29% and a return on equity of 31.93%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. Analysts forecast that BWX Technologies, Inc. will post 3.2 EPS for the current year.

BWX Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 16th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. BWX Technologies’s dividend payout ratio is 34.66%.

BWX Technologies Profile

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.