Fortis Group Advisors LLC Increases Stake in BWX Technologies, Inc. (NYSE:BWXT)

Fortis Group Advisors LLC increased its stake in BWX Technologies, Inc. (NYSE:BWXT) by 100.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,218 shares of the technology company’s stock after purchasing an additional 609 shares during the quarter. Fortis Group Advisors LLC’s holdings in BWX Technologies were worth $93,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BWXT. Invesco Ltd. boosted its position in shares of BWX Technologies by 16.6% in the third quarter. Invesco Ltd. now owns 2,027,376 shares of the technology company’s stock worth $152,013,000 after purchasing an additional 288,287 shares during the period. FMR LLC increased its stake in BWX Technologies by 1.8% in the 3rd quarter. FMR LLC now owns 1,884,236 shares of the technology company’s stock worth $141,280,000 after buying an additional 32,664 shares in the last quarter. Clearbridge Investments LLC raised its holdings in BWX Technologies by 0.7% during the fourth quarter. Clearbridge Investments LLC now owns 1,357,980 shares of the technology company’s stock valued at $104,198,000 after acquiring an additional 10,068 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of BWX Technologies by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,048,456 shares of the technology company’s stock worth $80,448,000 after acquiring an additional 7,782 shares during the period. Finally, Frontier Capital Management Co. LLC grew its position in shares of BWX Technologies by 28.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 967,317 shares of the technology company’s stock worth $74,222,000 after purchasing an additional 216,525 shares in the last quarter. 94.39% of the stock is currently owned by hedge funds and other institutional investors.

BWX Technologies Stock Up 0.4 %

BWX Technologies stock traded up $0.40 during midday trading on Friday, reaching $89.42. The company’s stock had a trading volume of 619,343 shares, compared to its average volume of 467,028. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market capitalization of $8.17 billion, a P/E ratio of 32.28, a PEG ratio of 3.35 and a beta of 0.71. The stock’s 50-day simple moving average is $91.65 and its 200-day simple moving average is $88.74. BWX Technologies, Inc. has a 52-week low of $67.11 and a 52-week high of $107.18.

BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results on Monday, May 6th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $603.97 million for the quarter, compared to analyst estimates of $599.92 million. BWX Technologies had a net margin of 10.00% and a return on equity of 31.57%. BWX Technologies’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS. On average, sell-side analysts expect that BWX Technologies, Inc. will post 3.19 EPS for the current year.

BWX Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 17th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, May 16th. BWX Technologies’s payout ratio is 34.66%.

Wall Street Analyst Weigh In

BWXT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their price target on BWX Technologies from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Monday, June 10th. CLSA began coverage on shares of BWX Technologies in a research note on Monday, June 3rd. They issued a “buy” rating for the company. Truist Financial restated a “hold” rating and set a $95.00 target price (down from $110.00) on shares of BWX Technologies in a research report on Monday, March 25th. Bank of America upped their price objective on BWX Technologies from $82.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, StockNews.com raised shares of BWX Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, BWX Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

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.