SPX Technologies, Inc. (NYSE:SPXC) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 60.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,632 shares of the company’s stock after purchasing an additional 2,121 shares during the period. Advisors Asset Management Inc.’s holdings in SPX Technologies were worth $898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Conestoga Capital Advisors LLC acquired a new stake in SPX Technologies in the 2nd quarter valued at $51,070,000. Select Equity Group L.P. purchased a new position in SPX Technologies during the second quarter valued at $24,904,000. Hood River Capital Management LLC grew its position in shares of SPX Technologies by 1,342.6% in the second quarter. Hood River Capital Management LLC now owns 187,537 shares of the company’s stock valued at $26,657,000 after purchasing an additional 174,537 shares during the period. Victory Capital Management Inc. increased its stake in shares of SPX Technologies by 196.9% during the third quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock worth $34,921,000 after purchasing an additional 145,225 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of SPX Technologies during the 2nd quarter worth about $16,138,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $178.98 on Wednesday. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22. SPX Technologies, Inc. has a 52 week low of $83.98 and a 52 week high of $183.83. The firm has a 50-day simple moving average of $162.86 and a 200-day simple moving average of $151.82. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC) last released its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. On average, equities analysts predict that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research assumed coverage on SPX Technologies in a report on Monday. They issued an “outperform” rating and a $199.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, SPX Technologies has a consensus rating of “Hold” and a consensus target price of $160.33.

SPX Technologies 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.