Gateway Investment Advisers LLC Takes $221,000 Position in BWX Technologies, Inc. (NYSE:BWXT)

Gateway Investment Advisers LLC purchased a new position in shares of BWX Technologies, Inc. (NYSE:BWXT) 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 purchased 2,033 shares of the technology company’s stock, valued at approximately $221,000.

A number of other hedge funds have also recently added to or reduced their stakes in BWXT. Bessemer Group Inc. increased its stake in BWX Technologies by 11,107.7% in the first quarter. Bessemer Group Inc. now owns 834,973 shares of the technology company’s stock valued at $85,684,000 after acquiring an additional 827,523 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of 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 in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of BWX Technologies during the 1st quarter worth $42,106,000. Sapient Capital LLC bought a new stake in shares of BWX Technologies during the 2nd quarter worth $29,408,000. Finally, Van ECK Associates Corp boosted its stake in BWX Technologies by 79.1% in the second quarter. Van ECK Associates Corp now owns 641,671 shares of the technology company’s stock valued at $60,958,000 after buying an additional 283,472 shares in the last quarter. Institutional investors own 94.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of BWX Technologies from $113.00 to $129.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. 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 target price on the stock. Barclays downgraded shares of BWX Technologies from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $75.00 to $90.00 in a report on Wednesday, July 24th. StockNews.com raised BWX Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, Janney Montgomery Scott began coverage on BWX Technologies in a report on Thursday, June 27th. They issued a “buy” rating and a $113.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.86.

BWX Technologies Stock Performance

Shares of BWXT stock opened at $119.37 on Tuesday. The stock has a market capitalization of $10.91 billion, a PE ratio of 43.09, a PEG ratio of 4.25 and a beta of 0.71. The business’s 50 day simple moving average is $103.27 and its 200 day simple moving average is $97.50. 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, Inc. has a one year low of $72.91 and a one year high of $119.53.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings data on Monday, August 5th. The technology company reported $0.82 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 company had revenue of $681.50 million for the quarter, compared to analyst estimates of $639.31 million. During the same period in the prior year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, research analysts forecast that BWX Technologies, Inc. will post 3.2 earnings per share for the current year.

BWX Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 16th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, August 16th. BWX Technologies’s dividend payout ratio is 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.