Should You Invest in BWX Technologies (BWXT)?

Upslope Capital Management, an investment management firm, released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. The third quarter was challenging, and the fund returned -4.7% net, compared to -2.5% return for the S&P Midcap 400 ETF (MDY) and -0.1% return for the HFRX Equity Hedge Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Upslope Capital discussed stocks like BWX Technologies, Inc. (NYSE:BWXT) in the Q3 2022 investor letter. Headquartered in Lynchburg, Virginia, BWX Technologies, Inc. (NYSE:BWXT) is a nuclear components manufacturer and distributor company. On October 18, 2022, BWX Technologies, Inc. (NYSE:BWXT) stock closed at $54.79 per share. One-month return of BWX Technologies, Inc. (NYSE:BWXT) was 5.30% and its shares lost 5.47% of their value over the last 52 weeks. BWX Technologies, Inc. (NYSE:BWXT) has a market capitalization of $4.998 billion.

Here is what Upslope Capital specifically said about BWX Technologies, Inc. (NYSE:BWXT) in its Q3 2022 investor letter:

“BWX Technologies, Inc. (NYSE:BWXT) is a leading producer of nuclear reactors, components, and fuel, primarily for the power and propulsion of U.S. Navy subs and carriers. I sold our position and replaced it with CACI (detailed below). While I remain intrigued by the BWX story – unique product set, optionality outside of defense, and prospect of accelerating free cash flows – I became concerned with elevated management turnover (Chairman, CFO, CAO, and two division heads in the last year). Given the above-normal trust required in management for the thesis (believing capex will normalize and boost free cash flow soon and murky, long-tailed investments outside of defense), I decided to move on.”

BWX Technologies, Inc. (NYSE:BWXT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held BWX Technologies, Inc. (NYSE:BWXT) at the end of the second quarter which was 27 in the previous quarter.

We discussed BWX Technologies, Inc. (NYSE:BWXT) in another article and shared best stocks to buy according to Angela Aldrich’s Bayberry Capital Partners. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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