Bank of America Cuts BWX Technologies (NYSE:BWXT) Price Target to $135.00

BWX Technologies (NYSE:BWXT) had its price target decreased by Bank of America from $160.00 to $135.00 in a research report report published on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Maxim Group lifted their price objective on shares of BWX Technologies from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Truist Financial upped their price target on shares of BWX Technologies from $106.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, January 14th. Finally, Barclays raised their price objective on shares of BWX Technologies from $90.00 to $105.00 and gave the company an “underweight” rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.38.

BWX Technologies Stock Down 2.2 %

BWXT stock opened at $99.24 on Wednesday. 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 firm’s 50-day simple moving average is $107.26 and its 200 day simple moving average is $114.28. The stock has a market cap of $9.07 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 3.20 and a beta of 0.69. BWX Technologies has a fifty-two week low of $86.70 and a fifty-two week high of $136.31.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Monday, February 24th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.12. BWX Technologies had a return on equity of 31.95% and a net margin of 10.32%. The company had revenue of $746.27 million for the quarter, compared to analysts’ expectations of $653.16 million. As a group, sell-side analysts predict that BWX Technologies will post 3.23 EPS for the current year.

BWX Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. BWX Technologies’s payout ratio is 32.57%.

Insider Activity at BWX Technologies

In related news, SVP Robert L. Duffy sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.03, for a total value of $624,180.00. Following the completion of the transaction, the senior vice president now owns 3,206 shares of the company’s stock, valued at approximately $333,520.18. This trade represents a 65.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rex D. Geveden sold 45,625 shares of BWX Technologies stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $107.40, for a total transaction of $4,900,125.00. Following the transaction, the chief executive officer now owns 218,218 shares in the company, valued at approximately $23,436,613.20. The trade was a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,625 shares of company stock worth $5,734,145 in the last quarter. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On BWX Technologies

A number of institutional investors have recently bought and sold shares of BWXT. HHM Wealth Advisors LLC increased its stake in shares of BWX Technologies by 45.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 290 shares of the technology company’s stock worth $32,000 after acquiring an additional 90 shares during the last quarter. Principal Securities Inc. increased its position in BWX Technologies by 40.4% in the 4th quarter. Principal Securities Inc. now owns 316 shares of the technology company’s stock worth $35,000 after purchasing an additional 91 shares during the last quarter. Stone House Investment Management LLC raised its stake in shares of BWX Technologies by 76.2% during the 3rd quarter. Stone House Investment Management LLC now owns 229 shares of the technology company’s stock worth $25,000 after purchasing an additional 99 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of BWX Technologies by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the technology company’s stock valued at $2,829,000 after buying an additional 100 shares during the last quarter. Finally, Utah Retirement Systems grew its stake in shares of BWX Technologies by 2.1% in the 4th quarter. Utah Retirement Systems now owns 4,900 shares of the technology company’s stock valued at $546,000 after buying an additional 100 shares in the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

BWX Technologies Company Profile

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.