Assenagon Asset Management S.A. Boosts Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Assenagon Asset Management S.A. lifted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 132.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,904 shares of the company’s stock after acquiring an additional 68,798 shares during the period. Assenagon Asset Management S.A. owned 0.26% of SPX Technologies worth $19,279,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB lifted its stake in shares of SPX Technologies by 160.6% in the 1st quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock valued at $47,069,000 after purchasing an additional 235,720 shares in the last quarter. GSA Capital Partners LLP purchased a new position in SPX Technologies in the first quarter valued at approximately $1,522,000. American Century Companies Inc. lifted its position in SPX Technologies by 195.2% during the second quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock valued at $2,060,000 after buying an additional 9,582 shares in the last quarter. Victory Capital Management Inc. grew its stake in SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock worth $10,485,000 after buying an additional 10,010 shares during the period. Finally, Capital World Investors increased its holdings in SPX Technologies by 31.7% in the 1st quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after purchasing an additional 91,266 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

SPX Technologies Stock Performance

Shares of SPXC stock opened at $157.23 on Friday. SPX Technologies, Inc. has a 12 month low of $77.90 and a 12 month high of $173.30. The firm has a market capitalization of $7.27 billion, a P/E ratio of 76.70, a P/E/G ratio of 1.59 and a beta of 1.21. 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’s fifty day moving average price is $157.89 and its two-hundred day moving average price is $145.38.

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