Algert Global LLC Has $1.93 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Algert Global LLC raised its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 49.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,070 shares of the company's stock after purchasing an additional 4,000 shares during the quarter. Algert Global LLC's holdings in SPX Technologies were worth $1,925,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SPXC. Crewe Advisors LLC purchased a new stake in shares of SPX Technologies during the 2nd quarter worth about $28,000. Canada Pension Plan Investment Board purchased a new stake in SPX Technologies during the 2nd quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in SPX Technologies in the 3rd quarter valued at $28,000. UMB Bank n.a. lifted its stake 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 worth $30,000 after purchasing an additional 193 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of SPX Technologies during the second quarter worth about $39,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Stock Performance

Shares of SPXC traded down $3.98 during midday trading on Thursday, hitting $175.00. 178,060 shares of the stock traded hands, compared to its average volume of 249,612. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The business's 50 day moving average price is $163.27 and its two-hundred day moving average price is $151.98. The firm has a market capitalization of $8.11 billion, a PE ratio of 47.04, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22. SPX Technologies, Inc. has a 1-year low of $83.98 and a 1-year high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. During the same period last year, the company earned $1.06 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wolfe Research began coverage on SPX Technologies in a report on Monday. They set an "outperform" rating and a $199.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.