First Trust Advisors LP Boosts Stake in BWX Technologies, Inc. (NYSE:BWXT)

Posted by on Mar 11th, 2023

First Trust Advisors LP grew its stake in shares of BWX Technologies, Inc. (NYSE:BWXT – Get Rating) by 46.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 303,310 shares of the technology company’s stock after buying an additional 95,709 shares during the quarter. First Trust Advisors LP owned 0.33% of BWX Technologies worth $15,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in BWX Technologies by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,003,376 shares of the technology company’s stock worth $50,540,000 after acquiring an additional 25,577 shares during the last quarter. Bayberry Capital Partners LP boosted its stake in BWX Technologies by 220.8% during the third quarter. Bayberry Capital Partners LP now owns 401,000 shares of the technology company’s stock worth $20,198,000 after acquiring an additional 276,000 shares in the last quarter. Bayesian Capital Management LP bought a new stake in BWX Technologies during the third quarter worth about $282,000. Cantor Fitzgerald L. P. purchased a new position in BWX Technologies in the third quarter worth about $1,252,000. Finally, Cardinal Capital Management LLC CT raised its holdings 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 worth $92,064,000 after buying an additional 119,532 shares during the last quarter. Hedge funds and other institutional investors own 99.33% of the company’s stock.

BWX Technologies Stock Down 3.1 %

Shares of BWX Technologies stock opened at $61.24 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 2.10 and a quick ratio of 2.10. BWX Technologies, Inc. has a 1 year low of $45.78 and a 1 year high of $64.62. The firm’s 50-day moving average is $59.63 and its two-hundred day moving average is $57.19. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 4.56 and a beta of 0.79.

BWX Technologies (NYSE:BWXT – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The technology company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $641.18 million. BWX Technologies had a net margin of 10.67% and a return on equity of 40.65%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. As a group, research 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 announced a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Friday, March 10th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.50%. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 9th. BWX Technologies’s payout ratio is 33.85%.

Analyst Upgrades and Downgrades

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

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.

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Institutional Ownership by Quarter for BWX Technologies (NYSE:BWXT)

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