BWX Technologies (NYSE:BWXT) Rating Increased to Overweight at Alembic Global Advisors

Alembic Global Advisors upgraded shares of BWX Technologies (NYSE:BWXT) from a neutral rating to an overweight rating in a report issued on Tuesday, Marketbeat.com reports. They currently have $148.00 price target on the technology company’s stock.

A number of other research firms have also recently weighed in on BWXT. StockNews.com cut BWX Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial upped their target price on BWX Technologies from $95.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Barclays lowered BWX Technologies from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $75.00 to $90.00 in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of BWX Technologies from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.43.

BWX Technologies Stock Performance

Shares of NYSE:BWXT traded down $2.40 during trading on Tuesday, hitting $125.83. 155,060 shares of the stock traded hands, compared to its average volume of 638,174. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.15. The company has a fifty day moving average price of $114.57 and a two-hundred day moving average price of $101.83. BWX Technologies has a 52-week low of $74.69 and a 52-week high of $136.31. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 42.46, a P/E/G ratio of 4.82 and a beta of 0.69.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $672.00 million during the quarter, compared to analysts’ expectations of $658.84 million. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. As a group, equities analysts predict that BWX Technologies will post 3.21 EPS for the current year.

BWX Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.96 dividend on an annualized basis and a yield of 0.76%. BWX Technologies’s payout ratio is currently 31.79%.

Hedge Funds Weigh In On BWX Technologies

Several hedge funds and other institutional investors have recently modified their holdings of BWXT. Centiva Capital LP acquired a new stake in shares of BWX Technologies in the third quarter valued at approximately $508,000. Cinctive Capital Management LP purchased a new stake in BWX Technologies in the 3rd quarter valued at $1,591,000. ClearAlpha Technologies LP acquired a new stake in shares of BWX Technologies in the 3rd quarter worth $255,000. Concentric Capital Strategies LP raised its holdings in shares of BWX Technologies by 79.0% during the 3rd quarter. Concentric Capital Strategies LP now owns 109,983 shares of the technology company’s stock worth $11,955,000 after acquiring an additional 48,523 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of BWX Technologies by 3.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 135,223 shares of the technology company’s stock valued at $14,699,000 after acquiring an additional 5,000 shares during the last quarter. 94.39% of the stock is owned by hedge funds and other institutional investors.

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.