Squarepoint Ops LLC Sells 957 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Squarepoint Ops LLC decreased its position in SPX Technologies, Inc. (NYSE:SPXC) by 26.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,695 shares of the company’s stock after selling 957 shares during the quarter. Squarepoint Ops LLC’s holdings in SPX Technologies were worth $383,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC bought a new position in SPX Technologies in the second quarter valued at $16,138,000. Xponance Inc. raised its position in SPX Technologies by 7.1% in the second quarter. Xponance Inc. now owns 2,864 shares of the company’s stock valued at $407,000 after purchasing an additional 189 shares during the last quarter. Bank of Montreal Can increased its stake in shares of SPX Technologies by 13.5% in the second quarter. Bank of Montreal Can now owns 8,244 shares of the company’s stock valued at $1,201,000 after buying an additional 978 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of SPX Technologies by 4.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock valued at $503,000 after purchasing an additional 146 shares during the period. Finally, Public Sector Pension Investment Board increased its position in SPX Technologies by 8.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 101,678 shares of the company’s stock valued at $14,453,000 after buying an additional 8,105 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Performance

SPX Technologies stock opened at $163.94 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 $166.92. The firm has a market capitalization of $7.59 billion, a PE ratio of 79.97, a price-to-earnings-growth ratio of 1.63 and a beta of 1.21. The firm’s 50 day simple moving average is $153.79 and its 200 day simple moving average is $141.92.

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 firm had revenue of $501.30 million during the quarter, compared to analyst estimates of $492.08 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, analysts expect that SPX Technologies, Inc. will post 5.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.