BWX Technologies (NYSE:BWXT) Reaches New 52-Week Low – Here’s Why

by · The Cerbat Gem

BWX Technologies, Inc. (NYSE:BWXT – Get Free Report)’s share price reached a new 52-week low during trading on Wednesday. The stock traded as low as $122.10 and last traded at $122.1710, with a volume of 384,811 shares changing hands. The stock had previously closed at $131.82.

Wall Street Analysts Forecast Growth

BWXT has been the topic of a number of research reports. Wall Street Zen cut BWX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. BTIG Research reaffirmed a “buy” rating and issued a $235.00 target price on shares of BWX Technologies in a research report on Wednesday, September 30th. JPMorgan Chase & Co. reduced their target price on BWX Technologies from $230.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. Truist Financial decreased their price target on shares of BWX Technologies from $202.00 to $182.00 and set a “hold” rating on the stock in a research note on Tuesday, October 6th. Finally, BNP Paribas Exane lowered their price target on shares of BWX Technologies from $190.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, BWX Technologies has an average rating of “Moderate Buy” and an average target price of $205.00.

View Our Latest Report on BWXT

BWX Technologies Trading Up 3.9%

The company’s fifty day moving average price is $141.31 and its two-hundred day moving average price is $183.06. The company has a current ratio of 1.88, a quick ratio of 2.33 and a debt-to-equity ratio of 1.43. The firm has a market cap of $10.95 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 1.81 and a beta of 0.75.

BWX Technologies (NYSE:BWXT – Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. BWX Technologies had a return on equity of 31.65% and a net margin of 10.41%. The business had revenue of $952.97 million for the quarter, compared to analyst estimates of $970.52 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that BWX Technologies, Inc. will post 4.76 EPS for the current fiscal year.

BWX Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 19th. BWX Technologies’s dividend payout ratio (DPR) is presently 26.47%.

Insider Activity

In other news, CEO Rex D. Geveden sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $172.50, for a total transaction of $1,725,000.00. Following the sale, the chief executive officer owned 192,491 shares of the company’s stock, valued at $33,204,697.50. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On BWX Technologies

A number of large investors have recently bought and sold shares of BWXT. BlackRock Inc. purchased a new position in BWX Technologies during the second quarter worth about $2,359,895,000. First Trust Advisors LP increased its stake in BWX Technologies by 12.2% in the 1st quarter. First Trust Advisors LP now owns 1,391,079 shares of the technology company’s stock valued at $284,462,000 after buying an additional 151,580 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of BWX Technologies by 8.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,283,997 shares of the technology company’s stock worth $262,565,000 after buying an additional 99,053 shares in the last quarter. Bank of America Corp DE bought a new position in shares of BWX Technologies during the 2nd quarter worth approximately $202,020,000. Finally, William Blair Investment Management LLC bought a new position in shares of BWX Technologies during the 2nd quarter worth approximately $183,211,000. Institutional investors and hedge funds own 94.39% of the company’s stock.

BWX Technologies Company Profile

(Get Free Report)

BWX Technologies, Inc (NYSE: BWXT) is a specialty manufacturer and services provider focused on nuclear technology. The company designs and manufactures nuclear reactors, reactor components, nuclear fuel and related equipment, with a major emphasis on highly engineered systems used in naval and commercial applications.

BWXT is a key supplier to the U.S. government, supporting the U.S. Navy’s nuclear-powered aircraft carriers and submarines through reactor design, component manufacturing, fuel production, maintenance and life-cycle services.

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