Korea Investment Corp Boosts Holdings in BWX Technologies by 43.4%

Korea Investment Corp has significantly increased its stake in BWX Technologies, Inc. (NYSE: BWXT) by 43.4% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the investment firm now holds a total of 30,332 shares of the technology company, following the acquisition of an additional 9,183 shares. This increase brings the total value of Korea Investment Corp’s holdings in BWX Technologies to approximately $4,370,000.

Several other institutional investors have also adjusted their positions in BWX Technologies recently. Creative Financial Designs Inc. ADV expanded its holdings by an impressive 250.0%, acquiring a total of 175 shares valued at $25,000 after purchasing an additional 125 shares in the last quarter. Hantz Financial Services Inc. made a notable increase as well, raising its stake by 861.9% to own 202 shares worth $29,000 after adding 181 shares.

In the first quarter, Stone House Investment Management LLC and Compass Financial Services Inc. purchased new positions in BWX Technologies, valued at approximately $31,000 and $33,000, respectively. National Bank of Canada FI also increased its stake by 369.7%, now owning 559 shares valued at $55,000. Overall, institutional investors control 94.39% of BWX Technologies’ stock.

Analysts Adjust Ratings and Price Targets

Several brokerages have recently updated their ratings and price targets for BWX Technologies. Zacks Research downgraded the stock from a “strong-buy” to a “hold” rating on November 24, 2023. Conversely, Weiss Ratings reaffirmed a “buy (B-)” rating on the company. Northland Securities set a target price of $225.00, while Bank of America increased its target from $220.00 to $230.00 and maintained a “buy” rating.

The broader consensus among analysts reflects a cautiously optimistic outlook. Out of the ratings given, two analysts have classified BWX Technologies as a “Strong Buy,” seven have assigned a “Buy,” four a “Hold,” and one has issued a “Sell.” According to MarketBeat, the stock maintains a consensus rating of “Moderate Buy” with an average price target of $184.83.

Insider Activity and Company Performance

In related news, CEO Rex D. Geveden sold 10,000 shares on November 12, 2023, at an average price of $197.90, amounting to a total of $1,979,000. Following this transaction, Geveden retains 187,594 shares valued at approximately $37,124,852.60, representing a 5.06% decrease in ownership. The sale was documented in a filing with the Securities and Exchange Commission.

BWX Technologies has shown impressive financial performance recently. The company reported earnings of $1.00 per share for the latest quarter, surpassing analysts’ expectations of $0.85 by $0.15. Revenue for the quarter reached $866.29 million, significantly exceeding the anticipated $795.48 million. Notably, the company’s net margin stood at 10.28%, with a return on equity of 30.61%.

Additionally, BWX Technologies has set a fiscal year 2025 guidance range of $3.750 to $3.800 per share, with analysts predicting earnings of $3.23 per share for the current year.

In a move to reward shareholders, BWX Technologies has announced a quarterly dividend of $0.25 per share, payable on December 10, 2023, to stockholders of record as of November 19, 2023. This dividend represents an annualized payout of $1.00 and a yield of 0.6%, with a payout ratio currently at 30.03%.

BWX Technologies, Inc. operates in the nuclear technology sector, manufacturing components for both government and commercial applications. The company is headquartered in the United States and has expanded its reach into international markets, reinforcing its position as a leader in the industry.