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BWX Technologies, Inc. (NYSE:BWXT) Short Interest Down 13.1% in October

Last updated on Sunday, November 22, 2020 | 2020 MarketBeat

BWX Technologies, Inc. (NYSE:BWXT) saw a large drop in short interest in October. As of October 30th, there was short interest totalling 824,800 shares, a drop of 13.1% from the October 15th total of 949,200 shares. Based on an average daily volume of 470,900 shares, the short-interest ratio is currently 1.8 days. Currently, 0.9% of the shares of the company are sold short.

Shares of BWX Technologies stock opened at $55.89 on Friday. The firm has a 50-day simple moving average of $56.36 and a two-hundred day simple moving average of $56.83. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.85 and a current ratio of 1.85. BWX Technologies has a fifty-two week low of $40.40 and a fifty-two week high of $70.57. The company has a market cap of $5.33 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00.

BWX Technologies (NYSE:BWXT) last announced its quarterly earnings results on Monday, November 2nd. The technology company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.67 by $0.12. BWX Technologies had a return on equity of 61.50% and a net margin of 13.27%. The firm had revenue of $520.00 million during the quarter, compared to analyst estimates of $489.24 million. During the same quarter in the previous year, the business earned $0.79 EPS. BWX Technologies's revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts forecast that BWX Technologies will post 3 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.36%. BWX Technologies's dividend payout ratio (DPR) is 29.01%.

In other news, insider Joel W. Duling sold 1,700 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $58.00, for a total value of $98,600.00. Following the completion of the transaction, the insider now directly owns 16,309 shares in the company, valued at $945,922. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David S. Black sold 1,000 shares of BWX Technologies stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $55.38, for a total value of $55,380.00. Insiders sold a total of 8,300 shares of company stock valued at $467,412 over the last quarter. 0.46% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Xponance Inc. lifted its holdings in BWX Technologies by 4.7% during the third quarter. Xponance Inc. now owns 6,505 shares of the technology company's stock valued at $366,000 after purchasing an additional 294 shares in the last quarter. Alps Advisors Inc. boosted its holdings in BWX Technologies by 11.3% in the 3rd quarter. Alps Advisors Inc. now owns 4,721 shares of the technology company's stock worth $266,000 after buying an additional 481 shares during the last quarter. LPL Financial LLC boosted its holdings in BWX Technologies by 14.5% in the 3rd quarter. LPL Financial LLC now owns 4,073 shares of the technology company's stock worth $229,000 after buying an additional 516 shares during the last quarter. Comerica Bank raised its holdings in shares of BWX Technologies by 9.1% during the third quarter. Comerica Bank now owns 7,000 shares of the technology company's stock valued at $403,000 after acquiring an additional 581 shares during the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in shares of BWX Technologies in the third quarter valued at approximately $34,000. 83.18% of the stock is owned by institutional investors.

BWXT has been the topic of several recent research reports. Bank of America raised shares of BWX Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $60.00 to $70.00 in a report on Thursday, October 15th. Zacks Investment Research downgraded BWX Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, November 4th. TheStreet lowered BWX Technologies from a "b" rating to a "c+" rating in a research note on Monday, November 9th. Finally, Credit Suisse Group lowered their target price on BWX Technologies from $74.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of "Buy" and a consensus price target of $68.17.

About BWX Technologies

BWX Technologies, Inc manufactures and sells nuclear components in the United States, Canada, and internationally. Its Nuclear Operations Group segment offers nuclear components, reactors, assemblies, and fuel for the United States Department of Energy/National Nuclear Security Administration's Naval Nuclear Propulsion Program and other uses; close-tolerance equipment for nuclear applications; research reactor fuel elements for colleges, universities, and national laboratories; and components for defense applications.

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