State of Michigan Retirement System Acquires 600 Shares of BWX Technologies, Inc. (NYSE:BWXT)

State of Michigan Retirement System increased its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,500 shares of the technology company’s stock after purchasing an additional 600 shares during the quarter. State of Michigan Retirement System’s holdings in BWX Technologies were worth $2,309,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of BWX Technologies by 77.6% in the first quarter. GAMMA Investing LLC now owns 270 shares of the technology company’s stock worth $28,000 after purchasing an additional 118 shares during the last quarter. Toth Financial Advisory Corp grew its stake in shares of BWX Technologies by 1,500.0% in the first quarter. Toth Financial Advisory Corp now owns 320 shares of the technology company’s stock worth $33,000 after purchasing an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in BWX Technologies during the fourth quarter valued at $25,000. Riverview Trust Co bought a new stake in BWX Technologies during the first quarter valued at $56,000. Finally, SRS Capital Advisors Inc. boosted its position in BWX Technologies by 322.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 553 shares of the technology company’s stock valued at $42,000 after acquiring an additional 422 shares during the last quarter. Institutional investors own 94.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BWXT. Bank of America upped their price target on shares of BWX Technologies from $82.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of BWX Technologies from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. CLSA began coverage on shares of BWX Technologies in a research report on Monday, June 3rd. They set a “buy” rating on the stock. StockNews.com cut shares of BWX Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, BTIG Research initiated coverage on shares of BWX Technologies in a research report on Wednesday, June 26th. They set a “buy” rating and a $110.00 price target on the stock. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.33.

BWX Technologies Price Performance

BWXT stock opened at $95.46 on Thursday. The stock has a market capitalization of $8.73 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 3.58 and a beta of 0.69. The company’s 50-day moving average is $91.45 and its 200-day moving average is $90.08. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.24 and a quick ratio of 2.24. BWX Technologies, Inc. has a 1 year low of $67.91 and a 1 year high of $107.18.

BWX Technologies (NYSE:BWXT) last announced its quarterly earnings results on Monday, May 6th. The technology company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. BWX Technologies had a net margin of 10.00% and a return on equity of 31.57%. The business had revenue of $603.97 million for the quarter, compared to analysts’ expectations of $599.92 million. During the same quarter last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts expect that BWX Technologies, Inc. will post 3.18 EPS for the current fiscal year.

BWX Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 17th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.96 annualized dividend and a yield of 1.01%. BWX Technologies’s payout ratio is 34.66%.

BWX Technologies Company 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.