Todays Report: Today, Zacks Investment Research Downgrades BWX Technologies Inc. (BWXT) to Hold

Today, Zacks Investment Research Downgrades BWX Technologies Inc. (BWXT) to Hold

Zacks Investment Research lowered shares of BWX Technologies Inc. (NYSE:BWXT) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “BWX Technologies, Inc. supplies precision manufactured components and services to the commercial nuclear power industry. The company offers technical, management and site services to governments in complex facilities and environmental remediation activities. It operates primarily in Lynchburg, Va., Ohio and Cambridge, Ontario. BWX Technologies, Inc., formerly known as Babcock & Wilcox Company, is headquartered in Lynchburg, Va. “

Shares of BWX Technologies (NYSE:BWXT) opened at 37.81 on Tuesday. The company’s 50 day moving average price is $38.66 and its 200 day moving average price is $36.11. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 19.22 and a beta of 0.49. BWX Technologies has a 12 month low of $26.89 and a 12 month high of $39.70.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.06. The company earned $402.38 million during the quarter, compared to analyst estimates of $367.04 million. BWX Technologies had a return on equity of 60.44% and a net margin of 14.07%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities analysts expect that BWX Technologies will post $1.66 EPS for the current fiscal year.

In other news, insider Joseph G. Henry sold 16,032 shares of BWX Technologies stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $39.28, for a total value of $629,736.96. Following the transaction, the insider now owns 36,425 shares in the company, valued at $1,430,774. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James D. Canafax sold 4,500 shares of BWX Technologies stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $38.29, for a total value of $172,305.00. Following the completion of the transaction, the senior vice president now owns 72,100 shares in the company, valued at approximately $2,760,709. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in BWX Technologies by 1.1% in the second quarter. M&T Bank Corp now owns 6,639 shares of the company’s stock valued at $236,000 after buying an additional 69 shares in the last quarter. American Century Companies Inc. increased its position in BWX Technologies by 3.5% in the second quarter. American Century Companies Inc. now owns 7,618 shares of the company’s stock valued at $272,000 after buying an additional 259 shares in the last quarter. Glenmede Trust Co. NA increased its position in BWX Technologies by 4.5% in the second quarter. Glenmede Trust Co. NA now owns 10,735 shares of the company’s stock valued at $383,000 after buying an additional 460 shares in the last quarter. Teacher Retirement System of Texas increased its position in BWX Technologies by 6.6% in the second quarter. Teacher Retirement System of Texas now owns 13,227 shares of the company’s stock valued at $473,000 after buying an additional 824 shares in the last quarter. Finally, I.G. Investment Management LTD. increased its position in BWX Technologies by 9.4% in the second quarter. I.G. Investment Management LTD. now owns 12,549 shares of the company’s stock valued at $449,000 after buying an additional 1,075 shares in the last quarter. Hedge funds and other institutional investors own 94.36% of the company’s stock.

BWX Technologies Company Profile

BWX Technologies, Inc, formerly The Babcock & Wilcox Company, is a manufacturer of nuclear components and a service provider. The Company’s businesses focus on the design, engineering and manufacture of precision naval nuclear components, reactors and nuclear fuel for the United States Government. Its segments include Nuclear Operations, Technical Services, Nuclear Energy and Other.

Related posts

Leave a Comment