M&T Bank Corp Sells 201 Shares of BWX Technologies, Inc. (NYSE:BWXT)

M&T Bank Corp trimmed its position in BWX Technologies, Inc. (NYSE:BWXT) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,799 shares of the technology company’s stock after selling 201 shares during the quarter. M&T Bank Corp’s holdings in BWX Technologies were worth $5,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. increased its stake in BWX Technologies by 16.6% in the third quarter. Invesco Ltd. now owns 2,027,376 shares of the technology company’s stock valued at $152,013,000 after acquiring an additional 288,287 shares during the last quarter. FMR LLC lifted its stake in BWX Technologies by 1.8% in the 3rd quarter. FMR LLC now owns 1,884,236 shares of the technology company’s stock valued at $141,280,000 after purchasing an additional 32,664 shares during the last quarter. Clearbridge Investments LLC lifted its stake in BWX Technologies by 4.0% in the 3rd quarter. Clearbridge Investments LLC now owns 1,347,912 shares of the technology company’s stock valued at $101,066,000 after purchasing an additional 52,462 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in BWX Technologies by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,040,674 shares of the technology company’s stock valued at $78,030,000 after purchasing an additional 11,010 shares during the last quarter. Finally, Fiera Capital Corp lifted its stake in BWX Technologies by 2.9% in the 3rd quarter. Fiera Capital Corp now owns 892,837 shares of the technology company’s stock valued at $66,945,000 after purchasing an additional 25,467 shares during the last quarter. 94.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BWXT has been the subject of several research reports. Truist Financial reissued a “hold” rating and issued a $95.00 price objective (down previously from $110.00) on shares of BWX Technologies in a research note on Monday, March 25th. Bank of America increased their price objective on shares of BWX Technologies from $82.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, StockNews.com downgraded shares of BWX Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

BWX Technologies Price Performance

Shares of NYSE BWXT opened at $98.84 on Tuesday. BWX Technologies, Inc. has a twelve month low of $60.17 and a twelve month high of $107.18. The firm has a fifty day simple moving average of $98.82 and a 200 day simple moving average of $86.25. The company has a market capitalization of $9.03 billion, a PE ratio of 36.74, a P/E/G ratio of 3.10 and a beta of 0.75. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.29.

BWX Technologies (NYSE:BWXT) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.07. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $659.42 million. BWX Technologies had a net margin of 9.85% and a return on equity of 32.38%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the company posted $0.93 earnings per share. On average, sell-side analysts forecast that BWX Technologies, Inc. will post 3.14 EPS for the current year.

BWX Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 11th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.97%. This is a boost from BWX Technologies’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, March 8th. BWX Technologies’s dividend payout ratio (DPR) is presently 35.69%.

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.