BWX Technologies, Inc. (NYSE:BWXT) to Issue $0.23 Quarterly Dividend

BWX Technologies, Inc. (NYSE:BWXT) declared a quarterly dividend on Monday, October 30th, Wall Street Journal reports. Shareholders of record on Tuesday, November 21st will be given a dividend of 0.23 per share by the technology company on Tuesday, December 12th. This represents a $0.92 annualized dividend and a yield of 1.19%. The ex-dividend date is Monday, November 20th.

BWX Technologies has raised its dividend by an average of 9.0% annually over the last three years and has increased its dividend every year for the last 8 years. BWX Technologies has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BWX Technologies to earn $3.12 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 29.5%.

BWX Technologies Trading Up 0.4 %

BWXT opened at $77.34 on Friday. The stock’s fifty day moving average is $75.45 and its two-hundred day moving average is $71.31. The company has a market capitalization of $7.08 billion, a P/E ratio of 31.70, a PEG ratio of 5.98 and a beta of 0.81. BWX Technologies has a 52 week low of $55.47 and a 52 week high of $79.42. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.53.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. BWX Technologies had a return on equity of 33.34% and a net margin of 9.31%. The company had revenue of $589.99 million for the quarter, compared to the consensus estimate of $575.47 million. During the same period last year, the business posted $0.69 EPS. BWX Technologies’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts forecast that BWX Technologies will post 2.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BWXT. Bank of America lifted their price target on BWX Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, August 7th. Alembic Global Advisors downgraded BWX Technologies from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $79.00 to $82.00 in a report on Friday, November 3rd. Robert W. Baird upgraded BWX Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $61.00 to $85.00 in a report on Friday, August 4th. Maxim Group lifted their price target on BWX Technologies from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, August 7th. Finally, StockNews.com assumed coverage on BWX Technologies in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.38.

Institutional Trading of BWX Technologies

A number of institutional investors have recently made changes to their positions in the business. Creative Planning lifted its position in BWX Technologies by 6.4% during the 3rd quarter. Creative Planning now owns 4,208 shares of the technology company’s stock worth $316,000 after acquiring an additional 253 shares during the period. GTS Securities LLC acquired a new stake in BWX Technologies during the 3rd quarter worth about $258,000. Wolverine Trading LLC lifted its position in BWX Technologies by 211.9% during the 3rd quarter. Wolverine Trading LLC now owns 11,305 shares of the technology company’s stock worth $848,000 after acquiring an additional 7,680 shares during the period. Integrated Wealth Concepts LLC lifted its position in BWX Technologies by 21.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,965 shares of the technology company’s stock worth $447,000 after acquiring an additional 1,069 shares during the period. Finally, Toroso Investments LLC acquired a new stake in BWX Technologies during the 3rd quarter worth about $307,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

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; undertakes fabrication activities for missile launch tubes for U.S.