Raymond James & Associates Raises Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Raymond James & Associates lifted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 30.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,098 shares of the company’s stock after purchasing an additional 13,312 shares during the quarter. Raymond James & Associates’ holdings in SPX Technologies were worth $9,105,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in shares of SPX Technologies in the second quarter worth $28,000. Canada Pension Plan Investment Board acquired a new position in shares of SPX Technologies in the 2nd quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in SPX Technologies in the 3rd quarter worth $28,000. UMB Bank n.a. lifted its position in SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 193 shares during the period. Finally, Hilltop National Bank purchased a new stake in SPX Technologies during the 2nd quarter valued at about $39,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

SPX Technologies Stock Down 0.4 %

NYSE:SPXC opened at $159.25 on Wednesday. The firm has a market capitalization of $7.36 billion, a P/E ratio of 77.68, a PEG ratio of 1.58 and a beta of 1.21. The company’s fifty day moving average price is $158.15 and its 200-day moving average price is $146.23. SPX Technologies, Inc. has a 1-year low of $77.90 and a 1-year high of $173.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81.

SPX Technologies (NYSE:SPXC) last released 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. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The business had revenue of $501.30 million during the quarter, compared to analyst estimates of $492.08 million. During the same quarter last year, the business posted $1.06 EPS. The company’s revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts anticipate 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.