Federated Hermes Inc. Purchases 12,109 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Posted by Defense World Staff on Mar 11th, 2023

Federated Hermes Inc. grew its position in BWX Technologies, Inc. (NYSE:BWXT – Get Rating) by 29.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,959 shares of the technology company’s stock after acquiring an additional 12,109 shares during the quarter. Federated Hermes Inc. owned 0.06% of BWX Technologies worth $2,667,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BWXT. Boston Partners raised its position in BWX Technologies by 1.3% in the third quarter. Boston Partners now owns 5,736,873 shares of the technology company’s stock worth $289,835,000 after purchasing an additional 74,045 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of BWX Technologies by 4.0% in the 1st quarter. Wellington Management Group LLP now owns 5,683,810 shares of the technology company’s stock worth $306,130,000 after buying an additional 217,425 shares in the last quarter. State Street Corp lifted its position in shares of BWX Technologies by 11.9% during the 1st quarter. State Street Corp now owns 2,645,251 shares of the technology company’s stock worth $142,473,000 after buying an additional 281,441 shares during the period. Capital Research Global Investors boosted its stake in BWX Technologies by 8.7% in the 1st quarter. Capital Research Global Investors now owns 2,632,834 shares of the technology company’s stock valued at $141,804,000 after buying an additional 211,329 shares in the last quarter. Finally, Cardinal Capital Management LLC CT grew its position in BWX Technologies by 7.0% in the third quarter. Cardinal Capital Management LLC CT now owns 1,827,761 shares of the technology company’s stock valued at $92,064,000 after acquiring an additional 119,532 shares during the period. Institutional investors and hedge funds own 99.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BWXT shares. StockNews.com downgraded shares of BWX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Maxim Group upped their price objective on shares of BWX Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 29th. Credit Suisse Group raised their price objective on shares of BWX Technologies from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Finally, Barclays raised BWX Technologies from an “underweight” rating to an “equal weight” rating and set a $64.00 target price on the stock in a report on Thursday, December 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

BWX Technologies Trading Down 3.1 %

Shares of NYSE BWXT opened at $61.24 on Friday. BWX Technologies, Inc. has a 1-year low of $45.78 and a 1-year high of $64.62. The company has a 50-day moving average of $59.63 and a two-hundred day moving average of $57.19. The company has a market cap of $5.59 billion, a PE ratio of 23.55, a P/E/G ratio of 4.56 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 1.71.

BWX Technologies (NYSE:BWXT – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The technology company reported $0.93 earnings per share 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 company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $641.18 million. During the same quarter last year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts expect that BWX Technologies, Inc. will post 2.93 earnings per share for the current fiscal year.

BWX Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Friday, March 10th will be issued a $0.23 dividend. This is a boost from BWX Technologies’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.92 annualized dividend and a yield of 1.50%. BWX Technologies’s dividend payout ratio (DPR) is currently 33.85%.

BWX Technologies Company Profile

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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.