SPX Technologies, Inc. (NYSE:SPXC) Stock Position Lowered by Profund Advisors LLC

Profund Advisors LLC lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,423 shares of the company’s stock after selling 172 shares during the quarter. Profund Advisors LLC’s holdings in SPX Technologies were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SPXC. Crewe Advisors LLC acquired a new stake in SPX Technologies in the 2nd quarter valued at about $28,000. Canada Pension Plan Investment Board bought a new stake in shares of SPX Technologies in the 2nd quarter worth approximately $28,000. UMB Bank n.a. lifted its stake in SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 193 shares during the last quarter. Hilltop National Bank bought a new stake in SPX Technologies during the second quarter worth approximately $39,000. Finally, YHB Investment Advisors Inc. acquired a new position in SPX Technologies in the first quarter worth approximately $51,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th.

SPX Technologies Price Performance

NYSE SPXC opened at $158.02 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. SPX Technologies, Inc. has a 1 year low of $77.84 and a 1 year high of $165.13. The company has a market cap of $7.31 billion, a PE ratio of 77.08, a PEG ratio of 1.63 and a beta of 1.22. The stock’s 50-day moving average price is $151.30 and its two-hundred day moving average price is $138.92.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The business had revenue of $501.30 million for the quarter, compared to analyst estimates of $492.08 million. During the same quarter in the previous year, the business earned $1.06 earnings per share. The firm’s revenue was up 18.4% compared to the same quarter last year. On average, analysts predict that SPX Technologies, Inc. will post 5.54 EPS for the current year.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.