BTIG Research Initiates Coverage on BWX Technologies (NYSE:BWXT)

BTIG Research initiated coverage on shares of BWX Technologies (NYSE:BWXT) in a research note released on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $110.00 price target on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on BWXT. StockNews.com upgraded shares of BWX Technologies from a hold rating to a buy rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of BWX Technologies from $110.00 to $107.00 and set a buy rating on the stock in a report on Monday, June 10th. Truist Financial restated a hold rating and issued a $95.00 price objective (down previously from $110.00) on shares of BWX Technologies in a report on Monday, March 25th. Bank of America upped their price objective on shares of BWX Technologies from $82.00 to $115.00 and gave the stock a buy rating in a report on Thursday, March 28th. Finally, CLSA assumed coverage on shares of BWX Technologies in a report on Monday, June 3rd. They issued a buy rating on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $96.33.

BWX Technologies Price Performance

BWXT stock opened at $95.00 on Wednesday. BWX Technologies has a 1 year low of $67.91 and a 1 year high of $107.18. The company has a market cap of $8.68 billion, a P/E ratio of 34.30, a PEG ratio of 3.58 and a beta of 0.71. The firm has a 50-day moving average of $91.38 and a 200 day moving average of $89.73. 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 (NYSE:BWXT) last released its quarterly earnings results on Monday, May 6th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. BWX Technologies had a net margin of 10.00% and a return on equity of 31.57%. The company had revenue of $603.97 million during the quarter, compared to the consensus estimate of $599.92 million. During the same period in the prior year, the firm earned $0.70 earnings per share. BWX Technologies’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that BWX Technologies will post 3.19 EPS for the current year.

BWX Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 17th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.96 dividend on an annualized basis and a yield of 1.01%. BWX Technologies’s dividend payout ratio (DPR) is 34.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BWXT. Bessemer Group Inc. lifted its position in BWX Technologies by 11,107.7% during the first quarter. Bessemer Group Inc. now owns 834,973 shares of the technology company’s stock valued at $85,684,000 after purchasing an additional 827,523 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in BWX Technologies in the first quarter worth approximately $42,106,000. Frontier Capital Management Co. LLC raised its position in BWX Technologies by 28.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 967,317 shares of the technology company’s stock worth $74,222,000 after acquiring an additional 216,525 shares during the period. Van ECK Associates Corp raised its position in BWX Technologies by 97.7% in the first quarter. Van ECK Associates Corp now owns 358,199 shares of the technology company’s stock worth $36,759,000 after acquiring an additional 177,030 shares during the period. Finally, First Trust Advisors LP raised its position in BWX Technologies by 41.3% in the fourth quarter. First Trust Advisors LP now owns 330,559 shares of the technology company’s stock worth $25,364,000 after acquiring an additional 96,629 shares during the period. Institutional investors own 94.39% of the company’s stock.

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.