Should You Invest in BWX Technologies (BWXT)?

ClearBridge Investments, an investment management company, published its “SMID Cap Growth Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy underperformed its Russell 2500 Growth benchmark index in the second quarter. Only the real estate sector contributed positively to the fund’s performance, while all the other sectors, like IT, healthcare, industrials, and consumer discretionary, performed poorly. You can check the top 5 holdings of the fund to know its best picks in 2022.

In the letter, ClearBridge Investments discussed stocks like BWX Technologies, Inc. (NYSE:BWXT). Headquartered in Lynchburg, Virginia, BWX Technologies, Inc. (NYSE:BWXT) engages in the business of nuclear components. On August 19, 2022, BWX Technologies, Inc. (NYSE:BWXT) stock closed at $53.74 per share. One-month return of BWX Technologies, Inc. (NYSE:BWXT) was -2.15%, and its shares lost 4.77% of their value over the last 52 weeks. BWX Technologies, Inc. (NYSE:BWXT) has a market capitalization of $4.902 billion.

Here’s how ClearBridge Investments mentioned BWX Technologies, Inc. (NYSE:BWXT) in the Q2, 2022 investor letter:

“We also added BWX Technologies, Inc. (NYSE:BWXT), which manufactures and sells nuclear components globally. BWX supplies nuclear reactors to the U.S. Navy and commercial power producers, primarily in Canada, as well as a nascent offering in nuclear medicine raw materials. With roughly 80% of the company tied to a highly visible and well-funded defense priority (nuclear submarines), the company should drive steady and defensive growth with multiple upside drivers from greater acceptance of nuclear energy’s role in the energy transition coupled with technology advances in micro-reactors and small modular reactors.”

Although ClearBridge Investments invested in BWX Technologies, Inc. (NYSE:BWXT), it is not on the list of 30 Most Popular Stocks Among Hedge Funds. At the end of the first quarter, BWX Technologies, Inc. (NYSE:BWXT) was held by 27 hedge funds compared to 27 in the previous quarter.

We discussed BWX Technologies, Inc. (NYSE:BWXT) in another article and shared Upslope Capital Management’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.