Assetmark Inc. Increases Stock Position in BWX Technologies, Inc. (NYSE:BWXT)

Assetmark Inc. increased its position in BWX Technologies, Inc. (NYSE:BWXT) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,086 shares of the technology company’s stock after buying an additional 3,090 shares during the quarter. Assetmark Inc.’s holdings in BWX Technologies were worth $3,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in shares of BWX Technologies during the 1st quarter worth about $234,000. Concurrent Investment Advisors LLC purchased a new stake in BWX Technologies during the first quarter worth approximately $271,000. Russell Investments Group Ltd. increased its position in shares of BWX Technologies by 39.9% in the first quarter. Russell Investments Group Ltd. now owns 111,757 shares of the technology company’s stock worth $11,469,000 after acquiring an additional 31,845 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of BWX Technologies in the 1st quarter valued at $281,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of BWX Technologies by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 111,694 shares of the technology company’s stock valued at $11,462,000 after acquiring an additional 4,576 shares in the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on BWX Technologies from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com downgraded BWX Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Alembic Global Advisors upgraded BWX Technologies from a “neutral” rating to an “overweight” rating and set a $148.00 price target for the company in a report on Tuesday. Barclays lowered shares of BWX Technologies from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $75.00 to $90.00 in a research note on Wednesday, July 24th. Finally, Truist Financial upped their target price on shares of BWX Technologies from $95.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, BWX Technologies presently has an average rating of “Moderate Buy” and an average target price of $116.00.

BWX Technologies Trading Up 0.3 %

BWXT opened at $126.85 on Wednesday. BWX Technologies, Inc. has a 12-month low of $74.69 and a 12-month high of $128.00. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.25 and a quick ratio of 2.23. The stock has a market capitalization of $11.60 billion, a PE ratio of 42.00, a P/E/G ratio of 4.54 and a beta of 0.69. The firm’s fifty day moving average price is $113.29 and its 200 day moving average price is $101.43.

BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. The business had revenue of $672.00 million for the quarter, compared to analysts’ expectations of $658.84 million. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. As a group, research analysts expect that BWX Technologies, Inc. will post 3.21 EPS for the current fiscal year.

BWX Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 19th. BWX Technologies’s dividend payout ratio is currently 31.79%.

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.