Bank of New York Mellon Corp raised its position in shares of BWX Technologies, Inc. (NYSE:BWXT – Get Rating) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003,376 shares of the technology company’s stock after acquiring an additional 25,577 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.10% of BWX Technologies worth $50,540,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BWXT. Lazard Asset Management LLC acquired a new stake in shares of BWX Technologies in the first quarter valued at approximately $38,000. Wipfli Financial Advisors LLC acquired a new stake in shares of BWX Technologies in the third quarter valued at approximately $48,000. Essex Investment Management Co. LLC acquired a new stake in shares of BWX Technologies in the third quarter valued at approximately $115,000. Covestor Ltd increased its holdings in shares of BWX Technologies by 168.0% in the first quarter. Covestor Ltd now owns 3,039 shares of the technology company’s stock valued at $164,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of BWX Technologies in the first quarter valued at approximately $207,000. Institutional investors and hedge funds own 99.33% of the company’s stock.
Analyst Ratings Changes
Several research firms have issued reports on BWXT. Barclays raised BWX Technologies from an “underweight” rating to an “equal weight” rating and set a $64.00 target price for the company in a research note on Thursday, December 8th. StockNews.com began coverage on BWX Technologies in a research note on Thursday, March 16th. They set a “hold” rating for the company. Credit Suisse Group raised their target price on BWX Technologies from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Finally, Maxim Group raised their target price on BWX Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 29th.
BWX Technologies Trading Up 0.6 %
BWXT opened at $61.26 on Friday. BWX Technologies, Inc. has a 52 week low of $45.78 and a 52 week high of $64.62. The business has a fifty day simple moving average of $60.45 and a 200-day simple moving average of $57.87. The firm has a market cap of $5.60 billion, a P/E ratio of 23.56, a P/E/G ratio of 4.26 and a beta of 0.79. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 1.71.
BWX Technologies (NYSE:BWXT – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The technology company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.02). BWX Technologies had a return on equity of 40.65% and a net margin of 10.67%. The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $641.18 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that BWX Technologies, Inc. will post 2.93 earnings per share for the current year.
BWX Technologies Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Friday, March 10th will be given a dividend of $0.23 per share. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Thursday, March 9th. BWX Technologies’s dividend payout ratio (DPR) is currently 35.38%.
BWX Technologies Profile
BWX Technologies, Inc engages in the supply and provision of nuclear components and products. It operates through the Government Operations and Commercial Operations segments. The Government Operations segment manufactures naval nuclear reactors, including the related nuclear fuel, for the U.S. Naval Nuclear Propulsion Program for use in submarines and aircraft carriers.
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