Silvercrest Asset Management Group LLC Acquires 48,610 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Silvercrest Asset Management Group LLC boosted its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 15.3% in the 1st quarter, HoldingsChannel reports. The firm owned 367,144 shares of the technology company’s stock after purchasing an additional 48,610 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in BWX Technologies were worth $37,676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of BWX Technologies by 105.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,239 shares of the technology company’s stock valued at $1,872,000 after acquiring an additional 9,344 shares during the last quarter. Raymond James & Associates boosted its position in shares of BWX Technologies by 4.2% during the 4th quarter. Raymond James & Associates now owns 368,827 shares of the technology company’s stock valued at $28,300,000 after acquiring an additional 14,973 shares during the last quarter. Jennison Associates LLC boosted its position in shares of BWX Technologies by 24.1% during the 4th quarter. Jennison Associates LLC now owns 248,250 shares of the technology company’s stock valued at $19,048,000 after acquiring an additional 48,170 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of BWX Technologies by 3.4% during the 4th quarter. California Public Employees Retirement System now owns 387,038 shares of the technology company’s stock valued at $29,697,000 after acquiring an additional 12,803 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. bought a new position in shares of BWX Technologies during the 1st quarter valued at approximately $1,144,000. 94.39% of the stock is currently owned by institutional investors.

BWX Technologies Price Performance

Shares of BWXT stock traded down $0.07 during trading hours on Tuesday, hitting $98.21. 261,240 shares of the company’s stock were exchanged, compared to its average volume of 580,266. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.29. The firm has a market cap of $8.98 billion, a P/E ratio of 35.49, a P/E/G ratio of 3.67 and a beta of 0.69. The firm has a 50 day moving average of $94.06 and a two-hundred day moving average of $93.04. BWX Technologies, Inc. has a fifty-two week low of $68.15 and a fifty-two week high of $107.18.

BWX Technologies (NYSE:BWXT) last announced its earnings results on Monday, May 6th. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.09. BWX Technologies had a return on equity of 31.57% and a net margin of 10.00%. The business had revenue of $603.97 million during the quarter, compared to the consensus estimate of $599.92 million. During the same period in the prior year, the company posted $0.70 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts forecast that BWX Technologies, Inc. will post 3.19 EPS for the current year.

BWX Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 17th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, May 16th. BWX Technologies’s payout ratio is 34.66%.

Wall Street Analyst Weigh In

BWXT has been the topic of several recent research reports. StockNews.com lowered BWX Technologies from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. BTIG Research initiated coverage on BWX Technologies in a report on Wednesday, June 26th. They set a “buy” rating and a $110.00 price target on the stock. Barclays lowered BWX Technologies from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $75.00 to $90.00 in a report on Wednesday, July 24th. Janney Montgomery Scott initiated coverage on BWX Technologies in a research note on Thursday, June 27th. They issued a “buy” rating and a $113.00 target price on the stock. Finally, CLSA initiated coverage on BWX Technologies in a research report on Monday, June 3rd. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.00.

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.