ARK Investment Management LLC Buys Shares of 94,923 BWX Technologies, Inc. (NYSE:BWXT)

ARK Investment Management LLC bought a new stake in BWX Technologies, Inc. (NYSE:BWXT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 94,923 shares of the technology company’s stock, valued at approximately $10,573,000.

A number of other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in shares of BWX Technologies by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,667 shares of the technology company’s stock worth $290,000 after buying an additional 87 shares during the period. HHM Wealth Advisors LLC raised its stake in shares of BWX Technologies by 45.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 290 shares of the technology company’s stock worth $32,000 after buying an additional 90 shares during the period. Principal Securities Inc. raised its stake in shares of BWX Technologies by 40.4% in the fourth quarter. Principal Securities Inc. now owns 316 shares of the technology company’s stock worth $35,000 after buying an additional 91 shares during the period. Stone House Investment Management LLC raised its stake in shares of BWX Technologies by 76.2% in the third quarter. Stone House Investment Management LLC now owns 229 shares of the technology company’s stock worth $25,000 after buying an additional 99 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in shares of BWX Technologies by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the technology company’s stock worth $2,829,000 after buying an additional 100 shares during the period. Institutional investors own 94.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Alembic Global Advisors raised BWX Technologies from a “neutral” rating to an “overweight” rating and set a $148.00 price objective on the stock in a research note on Tuesday, November 12th. Barclays raised their price objective on BWX Technologies from $90.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, December 16th. Maxim Group lifted their target price on BWX Technologies from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft lifted their target price on BWX Technologies from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Truist Financial lifted their target price on BWX Technologies from $106.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, BWX Technologies has an average rating of “Moderate Buy” and a consensus price target of $127.50.

BWX Technologies Stock Performance

NYSE BWXT opened at $104.16 on Wednesday. The stock has a market capitalization of $9.52 billion, a PE ratio of 34.49, a P/E/G ratio of 3.20 and a beta of 0.73. The business has a 50 day simple moving average of $113.47 and a two-hundred day simple moving average of $114.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.25 and a quick ratio of 2.25. BWX Technologies, Inc. has a 1-year low of $86.70 and a 1-year high of $136.31.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Monday, February 24th. The technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.12. The business had revenue of $746.27 million during the quarter, compared to analysts’ expectations of $653.16 million. BWX Technologies had a return on equity of 31.95% and a net margin of 10.32%. On average, research analysts predict that BWX Technologies, Inc. will post 3.23 EPS for the current fiscal year.

BWX Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, March 11th. This is a boost from BWX Technologies’s previous quarterly dividend of $0.24. BWX Technologies’s dividend payout ratio (DPR) is currently 31.79%.

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.