Driehaus Capital Management LLC Buys 23,112 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Driehaus Capital Management LLC grew its stake in SPX Technologies, Inc. (NYSE:SPXC) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 336,377 shares of the company’s stock after purchasing an additional 23,112 shares during the quarter. Driehaus Capital Management LLC’s holdings in SPX Technologies were worth $47,813,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SPXC. Crewe Advisors LLC bought a new stake in shares of SPX Technologies in the 2nd quarter valued at about $28,000. Canada Pension Plan Investment Board bought a new position in SPX Technologies during the 2nd quarter worth $28,000. UMB Bank n.a. raised its stake in SPX Technologies by 965.0% in 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 in the last quarter. Hilltop National Bank acquired a new stake in shares of SPX Technologies during the 2nd quarter worth approximately $39,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of SPX Technologies in the 1st quarter valued at $51,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SPX Technologies Stock Performance

NYSE SPXC opened at $159.00 on Friday. SPX Technologies, Inc. has a 1 year low of $77.84 and a 1 year high of $165.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The company has a fifty day moving average price of $151.84 and a 200-day moving average price of $139.36. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.62 and a beta of 1.22.

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

About SPX Technologies

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.