Westwood Holdings Group Inc. Invests $9.08 Million in BWX Technologies, Inc. (NYSE:BWXT)

Westwood Holdings Group Inc. bought a new stake in shares of BWX Technologies, Inc. (NYSE:BWXT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 95,558 shares of the technology company’s stock, valued at approximately $9,078,000.

Several other hedge funds have also modified their holdings of BWXT. Thrivent Financial for Lutherans raised its holdings in BWX Technologies by 1,121.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 578,068 shares of the technology company’s stock worth $54,916,000 after buying an additional 530,749 shares during the period. Sei Investments Co. increased its position in shares of BWX Technologies by 8.7% in the second quarter. Sei Investments Co. now owns 137,499 shares of the technology company’s stock worth $13,067,000 after acquiring an additional 10,977 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of BWX Technologies by 5.4% in the second quarter. Pacer Advisors Inc. now owns 18,276 shares of the technology company’s stock worth $1,736,000 after acquiring an additional 934 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of BWX Technologies by 994.9% during the second quarter. King Luther Capital Management Corp now owns 87,594 shares of the technology company’s stock valued at $8,321,000 after acquiring an additional 79,594 shares during the period. Finally, Bridges Investment Management Inc. lifted its position in shares of BWX Technologies by 76.3% in the 2nd quarter. Bridges Investment Management Inc. now owns 359,147 shares of the technology company’s stock valued at $34,119,000 after acquiring an additional 155,387 shares in the last quarter. 94.39% of the stock is owned by hedge funds and other institutional investors.

BWX Technologies Stock Up 4.9 %

Shares of BWX Technologies stock opened at $102.84 on Friday. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 37.13, a P/E/G ratio of 3.51 and a beta of 0.71. The stock has a 50-day simple moving average of $99.13 and a 200-day simple moving average of $96.28. BWX Technologies, Inc. has a 52-week low of $72.14 and a 52-week high of $107.18. 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 earnings results on Monday, August 5th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. BWX Technologies had a net margin of 10.29% and a return on equity of 31.93%. The firm had revenue of $681.50 million during the quarter, compared to analysts’ expectations of $639.31 million. During the same period in the previous year, the company earned $0.65 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts expect that BWX Technologies, Inc. will post 3.2 earnings per share for the current fiscal year.

BWX Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 16th were issued a $0.24 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.96 annualized dividend and a yield of 0.93%. BWX Technologies’s dividend payout ratio (DPR) is currently 34.66%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BTIG Research assumed coverage on shares of BWX Technologies in a research note on Wednesday, June 26th. They set a “buy” rating and a $110.00 target price on the stock. Barclays lowered BWX Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $75.00 to $90.00 in a research report on Wednesday, July 24th. Janney Montgomery Scott started coverage on BWX Technologies in a research note on Thursday, June 27th. They set a “buy” rating and a $113.00 target price on the stock. StockNews.com raised shares of BWX Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BWX Technologies from $112.00 to $113.00 and gave the company 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 issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, BWX Technologies presently has an average rating of “Moderate Buy” and an average target price of $102.57.

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.