Janney Montgomery Scott Begins Coverage on BWX Technologies (NYSE:BWXT)

Janney Montgomery Scott assumed coverage on shares of BWX Technologies (NYSE:BWXT) in a research report report published on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $113.00 price target on the technology company’s stock.

Other analysts also recently issued research reports about the company. BTIG Research initiated coverage on BWX Technologies in a research note on Wednesday, June 26th. They set a buy rating and a $110.00 price target for the company. CLSA assumed coverage on BWX Technologies in a research note on Monday, June 3rd. They set a buy rating for the company. Bank of America increased their target price on BWX Technologies from $82.00 to $115.00 and gave the company a buy rating in a research note on Thursday, March 28th. Truist Financial restated a hold rating and set a $95.00 target price (down previously from $110.00) on shares of BWX Technologies in a research note on Monday, March 25th. Finally, StockNews.com upgraded BWX Technologies from a hold rating to a buy rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, BWX Technologies has an average rating of Moderate Buy and a consensus price target of $96.33.

BWX Technologies Stock Performance

Shares of BWXT stock opened at $95.00 on Thursday. 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 has a fifty-two week low of $67.91 and a fifty-two week high of $107.18. The stock’s 50-day moving average is $91.38 and its two-hundred day moving average is $89.80. The firm 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.

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 the consensus estimate of $0.67 by $0.09. The company had revenue of $603.97 million during the quarter, compared to the consensus estimate of $599.92 million. BWX Technologies had a return on equity of 31.57% and a net margin of 10.00%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 EPS. Analysts predict that BWX Technologies will post 3.18 earnings per share for the current fiscal year.

BWX Technologies Dividend Announcement

The company 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. The ex-dividend date was Thursday, May 16th. This represents a $0.96 annualized dividend and a yield of 1.01%. BWX Technologies’s dividend payout ratio (DPR) is 34.66%.

Hedge Funds Weigh In On BWX Technologies

Several large investors have recently added to or reduced their stakes in BWXT. Bessemer Group Inc. raised its holdings in shares of BWX Technologies by 11,107.7% in the 1st quarter. Bessemer Group Inc. now owns 834,973 shares of the technology company’s stock worth $85,684,000 after buying an additional 827,523 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of BWX Technologies in the 1st quarter worth approximately $42,106,000. Frontier Capital Management Co. LLC raised its holdings in shares of BWX Technologies by 28.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 967,317 shares of the technology company’s stock worth $74,222,000 after buying an additional 216,525 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of BWX Technologies by 97.7% in the 1st quarter. Van ECK Associates Corp now owns 358,199 shares of the technology company’s stock worth $36,759,000 after buying an additional 177,030 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of BWX Technologies by 41.3% in the 4th quarter. First Trust Advisors LP now owns 330,559 shares of the technology company’s stock worth $25,364,000 after buying an additional 96,629 shares in the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.

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.