Bahl & Gaynor Inc. Acquires 5,039 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Bahl & Gaynor Inc. boosted its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 19.4% in the 4th quarter, HoldingsChannel reports. The firm owned 30,959 shares of the technology company’s stock after purchasing an additional 5,039 shares during the quarter. Bahl & Gaynor Inc.’s holdings in BWX Technologies were worth $2,375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wolverine Asset Management LLC boosted its stake in BWX Technologies by 171.4% in the 4th quarter. Wolverine Asset Management LLC now owns 19,000 shares of the technology company’s stock worth $1,458,000 after purchasing an additional 12,000 shares during the period. Demars Financial Group LLC boosted its stake in BWX Technologies by 526.7% in the 4th quarter. Demars Financial Group LLC now owns 44,643 shares of the technology company’s stock worth $3,425,000 after purchasing an additional 37,520 shares during the period. California Public Employees Retirement System boosted its stake in 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 worth $29,697,000 after purchasing an additional 12,803 shares during the period. Jennison Associates LLC boosted its stake in BWX Technologies by 24.1% in the 4th quarter. Jennison Associates LLC now owns 248,250 shares of the technology company’s stock worth $19,048,000 after purchasing an additional 48,170 shares during the period. Finally, CWM LLC boosted its stake in BWX Technologies by 85.2% in the 4th quarter. CWM LLC now owns 928 shares of the technology company’s stock worth $71,000 after purchasing an additional 427 shares during the period. 94.39% of the stock is currently owned by institutional investors.

BWX Technologies Stock Performance

NYSE:BWXT opened at $95.99 on Friday. The stock’s fifty day moving average is $97.89 and its 200 day moving average is $85.32. BWX Technologies, Inc. has a fifty-two week low of $60.17 and a fifty-two week high of $107.18. The firm has a market capitalization of $8.77 billion, a PE ratio of 35.68, a PEG ratio of 3.02 and a beta of 0.73. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.18 and a current ratio of 2.18.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings results on Tuesday, February 27th. The technology company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.07. BWX Technologies had a return on equity of 32.38% and a net margin of 9.85%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $659.42 million. During the same quarter in the prior year, the firm posted $0.93 EPS. BWX Technologies’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, sell-side analysts anticipate that BWX Technologies, Inc. will post 3.14 earnings per share for the current year.

BWX Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 11th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, March 8th. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.23. BWX Technologies’s dividend payout ratio is presently 35.69%.

Wall Street Analyst Weigh In

BWXT has been the subject of several recent analyst reports. Bank of America upped their price target on BWX Technologies from $82.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. StockNews.com cut BWX Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, Truist Financial reaffirmed a “hold” rating and set a $95.00 price objective (down from $110.00) on shares of BWX Technologies in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

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.