Corebridge Financial Inc. Sells 4,642 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Corebridge Financial Inc. lessened its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,683 shares of the technology company’s stock after selling 4,642 shares during the period. Corebridge Financial Inc.’s holdings in BWX Technologies were worth $11,549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Congress Wealth Management LLC DE increased its position in BWX Technologies by 5.9% during the fourth quarter. Congress Wealth Management LLC DE now owns 2,249 shares of the technology company’s stock worth $251,000 after buying an additional 125 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of BWX Technologies by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 9,211,924 shares of the technology company’s stock worth $1,026,116,000 after acquiring an additional 202,917 shares in the last quarter. LPL Financial LLC increased its holdings in shares of BWX Technologies by 69.4% during the 4th quarter. LPL Financial LLC now owns 54,552 shares of the technology company’s stock valued at $6,077,000 after acquiring an additional 22,340 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of BWX Technologies by 3.0% during the 4th quarter. American Century Companies Inc. now owns 765,527 shares of the technology company’s stock valued at $85,272,000 after acquiring an additional 22,064 shares during the last quarter. Finally, Virtu Financial LLC raised its stake in shares of BWX Technologies by 371.1% in the 4th quarter. Virtu Financial LLC now owns 22,946 shares of the technology company’s stock valued at $2,556,000 after acquiring an additional 18,075 shares in the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.

BWX Technologies Stock Up 0.7 %

Shares of BWXT opened at $104.85 on Wednesday. BWX Technologies, Inc. has a 52 week low of $86.70 and a 52 week high of $136.31. The firm has a market capitalization of $9.58 billion, a P/E ratio of 34.72, a P/E/G ratio of 3.20 and a beta of 0.69. The company has a 50-day simple moving average of $108.44 and a 200-day simple moving average of $114.43. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.25 and a current ratio of 2.25.

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

BWX Technologies Increases Dividend

The firm 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.24. BWX Technologies’s payout ratio is 32.57%.

Insider Activity

In other news, SVP Ronald Owen Whitford, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $104.92, for a total value of $209,840.00. Following the sale, the senior vice president now directly owns 9,904 shares in the company, valued at approximately $1,039,127.68. This represents a 16.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Rex D. Geveden sold 45,625 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $107.40, for a total value of $4,900,125.00. Following the completion of the transaction, the chief executive officer now directly owns 218,218 shares of the company’s stock, valued at approximately $23,436,613.20. The trade was a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,625 shares of company stock worth $5,734,145. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BWXT shares. Truist Financial lifted their price target on shares of BWX Technologies from $106.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, January 14th. Barclays lifted their target price on shares of BWX Technologies from $90.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, December 16th. Finally, Maxim Group upped their price target on shares of BWX Technologies from $138.00 to $140.00 and gave the company a “buy” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BWX Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $127.50.

About BWX Technologies

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.