Bank of America Raises BWX Technologies Price Target to $230

BWX Technologies (NYSE: BWXT) received an upgrade in its price target from $220.00 to $230.00 by Bank of America, as detailed in a research report released on Thursday. The firm has maintained a “buy” rating on the technology company’s stock, reflecting a positive outlook on its performance.

Several other research analysts have also provided updates on BWX Technologies. BTIG Research raised its price target from $200.00 to $225.00 and issued a “buy” rating on November 7, 2023. Additionally, Northland Capital Markets upgraded the stock to a “strong-buy” rating on September 9, 2023. Weiss Ratings and Zacks Research also elevated their ratings for BWX Technologies on November 7 and October 7, respectively. In total, three analysts have rated the stock as a strong buy, while seven have issued buy ratings, three have assigned a hold rating, and one has recommended a sell rating.

According to data from MarketBeat.com, BWX Technologies currently holds a consensus rating of “Moderate Buy” alongside an average price target of $184.83.

Recent Performance and Financial Metrics

Shares of BWX Technologies opened at $177.57 on Thursday, revealing a slight decrease of 0.2%. The company has a market capitalization of $16.23 billion and demonstrated a price-to-earnings (P/E) ratio of 55.49 with a debt-to-equity ratio of 1.28. Over the past year, the stock has fluctuated between a low of $84.21 and a high of $218.50.

In its latest earnings report, released on November 3, 2023, BWX Technologies reported earnings per share (EPS) of $1.00, surpassing the consensus estimate of $0.85 by $0.15. The company’s revenue for the quarter reached $866.29 million, exceeding analyst expectations of $795.48 million. This marks a year-over-year revenue increase of 28.9%. The firm anticipates its fiscal year 2025 guidance to be between $3.750 and $3.800 EPS, while analysts expect $3.23 EPS for the current fiscal year.

Dividend Announcement and Insider Transactions

In addition to its performance metrics, BWX Technologies announced a quarterly dividend of $0.25 per share, set to be distributed on December 10, 2023. Shareholders of record on November 19, 2023 will receive this dividend, translating to an annualized dividend of $1.00 and a yield of 0.6%. The company’s dividend payout ratio stands at 30.03%.

On November 12, 2023, CEO Rex D. Geveden sold 10,000 shares of BWX Technologies at an average price of $197.90, totaling approximately $1,979,000. Following this transaction, Geveden retains 187,594 shares, valued at about $37,124,852.60, indicating a 5.06% decrease in his ownership.

Institutional investors have also been active, with significant changes to their positions in BWX Technologies. ARK Investment Management LLC increased its holdings by 426.5% in the second quarter, now owning 641,049 shares valued at $92,350,000. Other firms, such as Sequoia Financial Advisors LLC and PNC Financial Services Group Inc., have also made notable adjustments to their stakes in the company, contributing to institutional ownership of 94.39%.

BWX Technologies, Inc., headquartered in the United States, specializes in manufacturing nuclear components across various sectors, including government and commercial operations, solidifying its position within the industry.