Sit Investment Associates Inc. Invests $2.98 Million in BWX Technologies, Inc. (NYSE:BWXT)

Sit Investment Associates Inc. purchased a new position in shares of BWX Technologies, Inc. (NYSE:BWXT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,175 shares of the technology company’s stock, valued at approximately $2,977,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of BWX Technologies by 28.8% during the first quarter. Russell Investments Group Ltd. now owns 91,034 shares of the technology company’s stock worth $8,981,000 after purchasing an additional 20,348 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of BWX Technologies during the first quarter worth $31,000. Nuveen LLC bought a new position in shares of BWX Technologies during the first quarter worth $25,446,000. Aigen Investment Management LP boosted its position in shares of BWX Technologies by 13.8% during the first quarter. Aigen Investment Management LP now owns 3,956 shares of the technology company’s stock worth $390,000 after purchasing an additional 480 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of BWX Technologies by 13.6% during the first quarter. King Luther Capital Management Corp now owns 122,349 shares of the technology company’s stock worth $12,070,000 after purchasing an additional 14,669 shares in the last quarter. 94.39% of the stock is owned by institutional investors.

BWX Technologies Stock Down 0.7%

Shares of BWXT stock opened at $173.49 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.60 and a debt-to-equity ratio of 1.28. BWX Technologies, Inc. has a 1 year low of $84.21 and a 1 year high of $189.25. The firm’s fifty day moving average price is $148.58 and its two-hundred day moving average price is $121.42. The firm has a market capitalization of $15.86 billion, a P/E ratio of 54.22, a PEG ratio of 3.96 and a beta of 0.73.

BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.23. BWX Technologies had a net margin of 10.28% and a return on equity of 30.61%. The firm had revenue of $764.00 million for the quarter, compared to analyst estimates of $708.00 million. During the same period in the previous year, the business earned $0.82 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts predict that BWX Technologies, Inc. will post 3.23 EPS for the current fiscal year.

BWX Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, August 18th. BWX Technologies’s payout ratio is presently 31.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BWXT shares. William Blair reissued an “outperform” rating on shares of BWX Technologies in a research report on Wednesday, June 18th. CLSA reaffirmed an “outperform” rating and issued a $177.60 price objective (up from $153.00) on shares of BWX Technologies in a research report on Tuesday, May 27th. Bank of America boosted their price objective on shares of BWX Technologies from $155.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday. Maxim Group reaffirmed a “hold” rating on shares of BWX Technologies in a research report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $150.00 price objective (up from $119.00) on shares of BWX Technologies in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.51.

Insider Buying and Selling at BWX Technologies

In other news, Director Leland D. Melvin sold 600 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $178.26, for a total value of $106,956.00. Following the sale, the director directly owned 5,579 shares of the company’s stock, valued at approximately $994,512.54. This represents a 9.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Omar Fathi Meguid sold 2,261 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $179.84, for a total transaction of $406,618.24. Following the completion of the sale, the senior vice president directly owned 2,361 shares in the company, valued at approximately $424,602.24. The trade was a 48.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,953 shares of company stock valued at $5,359,758 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.

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.