Short Interest in BWX Technologies, Inc. (NYSE:BWXT) Drops By 7.5%

BWX Technologies, Inc. (NYSE:BWXT) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 889,300 shares, a drop of 7.5% from the March 15th total of 961,200 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 591,700 shares, the short-interest ratio is presently 1.5 days.

BWX Technologies Stock Performance

Shares of BWX Technologies stock traded down $0.20 during midday trading on Tuesday, hitting $93.65. The company had a trading volume of 710,843 shares, compared to its average volume of 605,659. The stock has a market cap of $8.56 billion, a PE ratio of 34.81, a P/E/G ratio of 3.01 and a beta of 0.73. BWX Technologies has a 1-year low of $60.17 and a 1-year high of $107.18. The business’s 50 day simple moving average is $96.59 and its two-hundred day simple moving average is $84.37. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.18 and a quick ratio of 2.18.

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

BWX Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 11th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 8th. This is a boost from BWX Technologies’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.03%. BWX Technologies’s dividend payout ratio (DPR) is presently 35.69%.

Analysts Set New Price Targets

Several equities analysts have commented on BWXT shares. Truist Financial reiterated a “hold” rating and set a $95.00 price target (down previously from $110.00) on shares of BWX Technologies in a report on Monday, March 25th. Bank of America increased their price target on BWX Technologies from $82.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, StockNews.com downgraded BWX Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Toth Financial Advisory Corp lifted its holdings in shares of BWX Technologies by 1,500.0% during the first quarter. Toth Financial Advisory Corp now owns 320 shares of the technology company’s stock valued at $33,000 after acquiring an additional 300 shares during the period. Brookmont Capital Management raised its holdings in shares of BWX Technologies by 10.2% in the first quarter. Brookmont Capital Management now owns 3,275 shares of the technology company’s stock valued at $336,000 after buying an additional 302 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of BWX Technologies by 105.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,239 shares of the technology company’s stock valued at $1,872,000 after buying an additional 9,344 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. bought a new position in shares of BWX Technologies in the first quarter valued at about $1,144,000. Finally, Riverview Trust Co bought a new position in shares of BWX Technologies in the first quarter valued at about $56,000. 94.39% of the stock is owned by institutional investors.

About BWX Technologies

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.