Jennison Associates LLC Raises Holdings in BWX Technologies, Inc. (NYSE:BWXT)

Jennison Associates LLC raised its stake in BWX Technologies, Inc. (NYSE:BWXT) by 24.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,250 shares of the technology company’s stock after purchasing an additional 48,170 shares during the quarter. Jennison Associates LLC’s holdings in BWX Technologies were worth $19,048,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC acquired a new stake in shares of BWX Technologies during the third quarter valued at about $46,000. Millburn Ridgefield Corp acquired a new stake in shares of BWX Technologies during the third quarter valued at about $50,000. Catalyst Capital Advisors LLC acquired a new stake in shares of BWX Technologies during the third quarter valued at about $50,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BWX Technologies during the third quarter valued at about $62,000. Finally, Fifth Third Bancorp grew its stake in shares of BWX Technologies by 30.4% during the third quarter. Fifth Third Bancorp now owns 926 shares of the technology company’s stock valued at $69,000 after acquiring an additional 216 shares in the last quarter. 94.39% of the stock is owned by hedge funds and other institutional investors.

BWX Technologies Stock Performance

Shares of BWXT stock opened at $94.70 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.29. The business has a 50 day moving average of $97.58 and a two-hundred day moving average of $85.12. BWX Technologies, Inc. has a 52 week low of $60.17 and a 52 week high of $107.18. The company has a market cap of $8.66 billion, a P/E ratio of 35.20, a PEG ratio of 2.99 and a beta of 0.73.

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

BWX Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 11th were paid a $0.24 dividend. This is an increase from BWX Technologies’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, March 8th. BWX Technologies’s payout ratio is presently 35.69%.

Wall Street Analyst Weigh In

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

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.