93,890 Shares in SPX Technologies, Inc. (NYSE:SPXC) Bought by Emerald Advisers LLC

Emerald Advisers LLC acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 93,890 shares of the company’s stock, valued at approximately $13,346,000.

A number of other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of SPX Technologies by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock worth $668,000 after purchasing an additional 174 shares during the period. UMB Bank n.a. boosted its position in shares of SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 193 shares during the period. Crewe Advisors LLC bought a new position in shares of SPX Technologies during the second quarter valued at approximately $28,000. US Bancorp DE raised its holdings in shares of SPX Technologies by 3.3% in the fourth quarter. US Bancorp DE now owns 7,254 shares of the company’s stock worth $733,000 after buying an additional 232 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of SPX Technologies by 122.6% during the 2nd quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock worth $60,000 after acquiring an additional 233 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

SPX Technologies stock opened at $140.85 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28. The company has a market capitalization of $6.52 billion, a PE ratio of 68.71, a P/E/G ratio of 1.48 and a beta of 1.22. The company has a 50 day moving average price of $149.70 and a 200-day moving average price of $135.24. SPX Technologies, Inc. has a fifty-two week low of $77.07 and a fifty-two week high of $164.91.

SPX Technologies (NYSE:SPXC) last issued its earnings results 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 period in the previous year, the company posted $1.06 EPS. SPX Technologies’s revenue was up 18.4% on a year-over-year basis. As a group, equities analysts forecast that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on SPXC. Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th. StockNews.com lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the transaction, the insider now directly owns 52,657 shares in the company, valued at approximately $7,576,815.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.53% of the stock is currently owned by corporate insiders.

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.