M&T Bank Corp Decreases Stock Position in BWX Technologies, Inc. (NYSE:BWXT)

M&T Bank Corp lowered its position in BWX Technologies, Inc. (NYSE:BWXT) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,799 shares of the technology company’s stock after selling 201 shares during the quarter. M&T Bank Corp owned 0.08% of BWX Technologies worth $5,356,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Invesco Ltd. grew its stake in BWX Technologies by 16.6% in the third quarter. Invesco Ltd. now owns 2,027,376 shares of the technology company’s stock worth $152,013,000 after purchasing an additional 288,287 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of BWX Technologies in the 3rd quarter worth approximately $17,295,000. Premier Fund Managers Ltd bought a new stake in shares of BWX Technologies in the 3rd quarter valued at approximately $8,180,000. Jennison Associates LLC raised its position in shares of BWX Technologies by 96.6% during the 3rd quarter. Jennison Associates LLC now owns 200,080 shares of the technology company’s stock valued at $15,002,000 after acquiring an additional 98,335 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in BWX Technologies by 42.6% during the third quarter. Envestnet Asset Management Inc. now owns 280,437 shares of the technology company’s stock worth $21,027,000 after purchasing an additional 83,747 shares during the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Bank of America boosted their target price on shares of BWX Technologies from $82.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. StockNews.com downgraded BWX Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Finally, Truist Financial restated a “hold” rating and issued a $95.00 target price (down from $110.00) on shares of BWX Technologies in a research note on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

BWX Technologies Stock Performance

Shares of BWXT stock opened at $98.84 on Tuesday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.29. The business has a 50 day moving average of $98.82 and a two-hundred day moving average of $86.25. The company has a market cap of $9.03 billion, a P/E ratio of 36.74, a PEG ratio of 3.10 and a beta of 0.75. BWX Technologies, Inc. has a 52 week low of $60.17 and a 52 week high of $107.18.

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

BWX Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 11th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.97%. This is an increase from BWX Technologies’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, March 8th. BWX Technologies’s dividend payout ratio is 35.69%.

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.