New York State Common Retirement Fund Trims Stake in BWX Technologies, Inc. (NYSE:BWXT)

New York State Common Retirement Fund reduced its holdings in shares of BWX Technologies, Inc. (NYSE:BWXT) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 392,292 shares of the technology company’s stock after selling 30,578 shares during the period. New York State Common Retirement Fund owned about 0.43% of BWX Technologies worth $43,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Venturi Wealth Management LLC increased its holdings in BWX Technologies by 12.1% during the fourth quarter. Venturi Wealth Management LLC now owns 7,129 shares of the technology company’s stock valued at $794,000 after buying an additional 771 shares during the last quarter. Pinnbrook Capital Management LP purchased a new stake in shares of BWX Technologies in the fourth quarter worth $5,258,000. Truist Financial Corp increased its stake in shares of BWX Technologies by 13.7% in the fourth quarter. Truist Financial Corp now owns 10,674 shares of the technology company’s stock worth $1,189,000 after purchasing an additional 1,289 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of BWX Technologies by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,807 shares of the technology company’s stock worth $313,000 after purchasing an additional 140 shares in the last quarter. Finally, Secured Retirement Advisors LLC purchased a new stake in shares of BWX Technologies in the fourth quarter worth $777,000. 94.39% of the stock is owned by hedge funds and other institutional investors.

BWX Technologies Price Performance

Shares of NYSE:BWXT opened at $104.58 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a fifty day moving average price of $114.58 and a 200 day moving average price of $113.87. BWX Technologies, Inc. has a fifty-two week low of $86.70 and a fifty-two week high of $136.31. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 3.26 and a beta of 0.73.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BWXT. StockNews.com cut shares of BWX Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Barclays increased their price objective on shares of BWX Technologies from $90.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, December 16th. Alembic Global Advisors raised shares of BWX Technologies from a “neutral” rating to an “overweight” rating and set a $148.00 price objective for the company in a research note on Tuesday, November 12th. Bank of America increased their price objective on shares of BWX Technologies from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Truist Financial upped their target price on shares of BWX Technologies from $106.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

About BWX Technologies

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.