The Manufacturers Life Insurance Company Cuts Position in BWX Technologies, Inc. (NYSE:BWXT)

The Manufacturers Life Insurance Company lowered its stake in shares of BWX Technologies, Inc. (NYSE:BWXT) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,148 shares of the technology company’s stock after selling 2,795 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of BWX Technologies worth $8,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Qsemble Capital Management LP purchased a new position in shares of BWX Technologies in the 3rd quarter worth approximately $843,000. Bank of Montreal Can raised its stake in BWX Technologies by 297.4% in the 3rd quarter. Bank of Montreal Can now owns 103,390 shares of the technology company’s stock worth $11,227,000 after acquiring an additional 77,376 shares during the last quarter. Hancock Whitney Corp grew its stake in BWX Technologies by 5.8% during the 3rd quarter. Hancock Whitney Corp now owns 2,434 shares of the technology company’s stock valued at $265,000 after purchasing an additional 133 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of BWX Technologies in the third quarter valued at about $1,032,000. Finally, Algert Global LLC lifted its holdings in shares of BWX Technologies by 4.2% during the third quarter. Algert Global LLC now owns 130,113 shares of the technology company’s stock worth $14,143,000 after purchasing an additional 5,260 shares during the period. Hedge funds and other institutional investors own 94.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Alembic Global Advisors raised shares of BWX Technologies from a “neutral” rating to an “overweight” rating and set a $148.00 price target on the stock in a report on Tuesday, November 12th. 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. StockNews.com cut BWX Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price objective on BWX Technologies from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Bank of America lifted their target price on shares of BWX Technologies from $115.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.43.

BWX Technologies Price Performance

BWX Technologies stock opened at $129.21 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.25 and a current ratio of 2.25. The company’s fifty day moving average price is $122.66 and its 200 day moving average price is $105.47. The stock has a market capitalization of $11.81 billion, a P/E ratio of 42.78, a P/E/G ratio of 4.33 and a beta of 0.70. BWX Technologies, Inc. has a 1 year low of $74.69 and a 1 year high of $136.31.

BWX Technologies (NYSE:BWXT) last released its earnings results on Monday, November 4th. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The business had revenue of $672.00 million during the quarter, compared to analysts’ expectations of $658.84 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts anticipate that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Announces Dividend

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 0.74%. BWX Technologies’s payout ratio is currently 31.79%.

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.