BWX Technologies (NYSE:BWXT) Downgraded to Underweight at Barclays

Barclays downgraded shares of BWX Technologies (NYSE:BWXT) from an equal weight rating to an underweight rating in a research report released on Wednesday morning, Marketbeat.com reports. The firm currently has $90.00 price objective on the technology company’s stock, up from their previous price objective of $75.00.

BWXT has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of BWX Technologies from $110.00 to $107.00 and set a buy rating for the company in a report on Monday, June 10th. BTIG Research assumed coverage on shares of BWX Technologies in a research report on Wednesday, June 26th. They issued a buy rating and a $110.00 target price on the stock. CLSA began coverage on shares of BWX Technologies in a research report on Monday, June 3rd. They set a buy rating for the company. Janney Montgomery Scott assumed coverage on shares of BWX Technologies in a research note on Thursday, June 27th. They issued a buy rating and a $113.00 price target on the stock. Finally, StockNews.com lowered BWX Technologies from a buy rating to a hold rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $98.00.

BWX Technologies Price Performance

NYSE:BWXT opened at $99.14 on Wednesday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.29. BWX Technologies has a 52 week low of $67.91 and a 52 week high of $107.18. The stock’s 50-day moving average price is $93.87 and its 200-day moving average price is $92.68. The stock has a market capitalization of $9.06 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 3.65 and a beta of 0.69.

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, topping analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $603.97 million for 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%. BWX Technologies’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share. As a group, equities analysts expect that BWX Technologies will post 3.19 EPS for the current fiscal year.

BWX Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Friday, May 17th were given a $0.24 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.97%. BWX Technologies’s dividend payout ratio (DPR) is presently 34.66%.

Institutional Investors Weigh In On BWX Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of BWX Technologies by 105.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,239 shares of the technology company’s stock worth $1,872,000 after acquiring an additional 9,344 shares during the last quarter. Raymond James & Associates raised its stake in BWX Technologies by 4.2% during the fourth quarter. Raymond James & Associates now owns 368,827 shares of the technology company’s stock worth $28,300,000 after purchasing an additional 14,973 shares during the period. Jennison Associates LLC boosted its holdings in BWX Technologies by 24.1% in the 4th quarter. Jennison Associates LLC now owns 248,250 shares of the technology company’s stock valued at $19,048,000 after purchasing an additional 48,170 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of BWX Technologies by 3.4% in the 4th quarter. California Public Employees Retirement System now owns 387,038 shares of the technology company’s stock valued at $29,697,000 after buying an additional 12,803 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. purchased a new stake in shares of BWX Technologies in the 1st quarter valued at approximately $1,144,000. 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.