VELA Investment Management LLC Acquires 3,847 Shares of BWX Technologies, Inc. (NYSE:BWXT)

VELA Investment Management LLC raised its stake in shares of BWX Technologies, Inc. (NYSE:BWXT) by 16.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,331 shares of the technology company’s stock after purchasing an additional 3,847 shares during the quarter. VELA Investment Management LLC’s holdings in BWX Technologies were worth $2,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CWM LLC boosted its stake in shares of BWX Technologies by 85.2% in the 4th quarter. CWM LLC now owns 928 shares of the technology company’s stock valued at $71,000 after purchasing an additional 427 shares in the last quarter. Truist Financial Corp grew its stake in BWX Technologies by 10.0% during the fourth quarter. Truist Financial Corp now owns 5,440 shares of the technology company’s stock worth $417,000 after buying an additional 496 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of BWX Technologies during the fourth quarter worth approximately $25,000. Charles Schwab Investment Management Inc. increased its holdings in shares of BWX Technologies by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,048,456 shares of the technology company’s stock worth $80,448,000 after buying an additional 7,782 shares in the last quarter. Finally, Pecaut & CO. acquired a new position in shares of BWX Technologies in the 4th quarter worth approximately $829,000. 94.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on BWXT shares. Janney Montgomery Scott initiated coverage on BWX Technologies in a research report on Thursday, June 27th. They issued a “buy” rating and a $113.00 price objective for the company. CLSA initiated coverage on shares of BWX Technologies in a research report on Monday, June 3rd. They set a “buy” rating on the stock. 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 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of BWX Technologies from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, StockNews.com upgraded shares of BWX Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. One equities 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 stock currently has an average rating of “Moderate Buy” and an average price target of $102.57.

BWX Technologies Trading Down 1.2 %

BWXT opened at $97.54 on Friday. The firm has a 50 day simple moving average of $98.63 and a 200 day simple moving average of $96.04. BWX Technologies, Inc. has a fifty-two week low of $71.55 and a fifty-two week high of $107.18. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 3.74 and a beta of 0.68. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.23 and a quick ratio of 2.23.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings results on Monday, August 5th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. BWX Technologies had a return on equity of 31.93% and a net margin of 10.29%. The company had revenue of $681.50 million for the quarter, compared to the consensus estimate of $639.31 million. During the same quarter in the prior year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that BWX Technologies, Inc. will post 3.2 earnings per share for the current year.

BWX Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 16th were paid a $0.24 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.98%. BWX Technologies’s dividend payout ratio (DPR) is presently 34.66%.

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.