Jennison Associates LLC Reduces Stock Holdings in BWX Technologies, Inc. (NYSE:BWXT)

Jennison Associates LLC lessened its stake in BWX Technologies, Inc. (NYSE:BWXT) by 11.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 373,541 shares of the technology company’s stock after selling 48,847 shares during the quarter. Jennison Associates LLC owned about 0.41% of BWX Technologies worth $40,604,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Commerce Bank acquired a new position in BWX Technologies in the third quarter worth about $235,000. Premier Fund Managers Ltd grew its position in shares of BWX Technologies by 3.9% in the 3rd quarter. Premier Fund Managers Ltd now owns 50,380 shares of the technology company’s stock worth $5,470,000 after acquiring an additional 1,900 shares in the last quarter. Prospera Financial Services Inc increased its holdings in shares of BWX Technologies by 81.1% in the 3rd quarter. Prospera Financial Services Inc now owns 3,818 shares of the technology company’s stock valued at $415,000 after acquiring an additional 1,710 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of BWX Technologies by 14.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 28,713 shares of the technology company’s stock valued at $3,121,000 after acquiring an additional 3,640 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in BWX Technologies by 500.1% during the third quarter. Quest Partners LLC now owns 9,475 shares of the technology company’s stock worth $1,030,000 after purchasing an additional 7,896 shares during the last quarter. Hedge funds and other institutional investors own 94.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BWXT shares. Truist Financial boosted their price objective on shares of BWX Technologies from $95.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. StockNews.com cut BWX Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Alembic Global Advisors upgraded shares of BWX Technologies from a “neutral” rating to an “overweight” rating and set a $148.00 price target for the company in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BWX Technologies from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Bank of America upped their target price on shares of BWX Technologies from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.43.

BWX Technologies Price Performance

NYSE BWXT opened at $133.42 on Friday. The stock has a 50-day simple moving average of $117.14 and a 200 day simple moving average of $102.76. BWX Technologies, Inc. has a twelve month low of $74.69 and a twelve month high of $136.31. The stock has a market capitalization of $12.20 billion, a PE ratio of 44.18, a P/E/G ratio of 4.37 and a beta of 0.69. 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 posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $658.84 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. Research analysts anticipate that BWX Technologies, Inc. will post 3.23 EPS for the current year.

BWX Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.72%. BWX Technologies’s payout ratio is presently 31.79%.

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.