Principal Financial Group Inc. Has $23.05 Million Position in BWX Technologies, Inc. (NYSE:BWXT)

Principal Financial Group Inc. cut its stake in BWX Technologies, Inc. (NYSE:BWXT) by 45.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,055 shares of the technology company’s stock after selling 178,070 shares during the quarter. Principal Financial Group Inc.’s holdings in BWX Technologies were worth $23,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in BWX Technologies by 37.2% in the second quarter. Blue Trust Inc. now owns 446 shares of the technology company’s stock valued at $46,000 after purchasing an additional 121 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of BWX Technologies by 4.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,539 shares of the technology company’s stock valued at $385,000 after buying an additional 145 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of BWX Technologies by 2.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 5,293 shares of the technology company’s stock valued at $503,000 after buying an additional 149 shares in the last quarter. XTX Topco Ltd increased its holdings in BWX Technologies by 7.1% in the second quarter. XTX Topco Ltd now owns 2,237 shares of the technology company’s stock worth $213,000 after buying an additional 149 shares during the last quarter. Finally, Quent Capital LLC raised its position in BWX Technologies by 147.6% during the third quarter. Quent Capital LLC now owns 255 shares of the technology company’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. 94.39% of the stock is currently owned by hedge funds and other institutional investors.

BWX Technologies Stock Performance

NYSE BWXT opened at $132.08 on Thursday. The company’s fifty day moving average is $113.96 and its two-hundred day moving average is $101.65. BWX Technologies, Inc. has a 52-week low of $74.69 and a 52-week high of $134.21. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 43.74, a P/E/G ratio of 4.63 and a beta of 0.69.

BWX Technologies (NYSE:BWXT) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. The company had revenue of $672.00 million for the quarter, compared to analyst estimates of $658.84 million. BWX Technologies had a return on equity of 31.95% and a net margin of 10.32%. BWX Technologies’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 EPS. Equities research analysts forecast that BWX Technologies, Inc. will post 3.21 EPS for the current year.

BWX Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.96 annualized dividend and a dividend yield of 0.73%. BWX Technologies’s dividend payout ratio is currently 31.79%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BWXT shares. Alembic Global Advisors raised shares of BWX Technologies from a “neutral” rating to an “overweight” rating and set a $148.00 target price for the company in a research report on Tuesday. Barclays cut shares of BWX Technologies from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $75.00 to $90.00 in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on BWX Technologies from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Truist Financial upped their price target on BWX Technologies from $95.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Finally, StockNews.com downgraded BWX Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.00.

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.