BWX Technologies, Inc. (NYSE:BWXT) Sees Large Drop in Short Interest

BWX Technologies, Inc. (NYSE:BWXT) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 871,000 shares, a drop of 9.0% from the August 15th total of 956,700 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 485,700 shares, the days-to-cover ratio is currently 1.8 days.

Hedge Funds Weigh In On BWX Technologies

A number of large investors have recently modified their holdings of BWXT. Sanctuary Advisors LLC bought a new stake in shares of BWX Technologies during the second quarter valued at approximately $615,000. Truist Financial Corp boosted its position in BWX Technologies by 3.3% in the second quarter. Truist Financial Corp now owns 8,250 shares of the technology company’s stock worth $784,000 after purchasing an additional 262 shares during the last quarter. Creative Planning grew its position in BWX Technologies by 44.1% during the second quarter. Creative Planning now owns 7,324 shares of the technology company’s stock valued at $696,000 after buying an additional 2,242 shares during the period. Algert Global LLC grew its holdings in BWX Technologies by 18.6% during the second quarter. Algert Global LLC now owns 124,853 shares of the technology company’s stock valued at $11,861,000 after purchasing an additional 19,584 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of BWX Technologies by 748.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 78,089 shares of the technology company’s stock valued at $7,418,000 after purchasing an additional 68,889 shares during the period. 94.39% of the stock is owned by hedge funds and other institutional investors.

BWX Technologies Trading Down 0.7 %

Shares of BWX Technologies stock traded down $0.64 on Wednesday, hitting $97.13. 486,560 shares of the company’s stock traded hands, compared to its average volume of 559,977. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 3.51 and a beta of 0.71. The company has a fifty day moving average of $99.00 and a two-hundred day moving average of $96.34. BWX Technologies has a one year low of $72.14 and a one year high of $107.18.

BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results 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 return on equity of 31.93% and a net margin of 10.29%. The company had revenue of $681.50 million during the quarter, compared to the consensus estimate of $639.31 million. During the same period last year, the business posted $0.65 earnings per share. BWX Technologies’s revenue was up 11.3% on a year-over-year basis. As a group, sell-side analysts expect that BWX Technologies will post 3.2 earnings per share for the current year.

BWX Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 16th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, August 16th. BWX Technologies’s dividend payout ratio (DPR) is currently 34.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BWXT. Janney Montgomery Scott initiated coverage on BWX Technologies in a research note on Thursday, June 27th. They set a “buy” rating and a $113.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price target on BWX Technologies from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. BTIG Research began coverage on shares of BWX Technologies in a research report on Wednesday, June 26th. They set a “buy” rating and a $110.00 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, CLSA began coverage on shares of BWX Technologies in a report on Monday, June 3rd. They issued a “buy” rating on the stock. One equities 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.57.

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.