Harvest Fund Management Co. Ltd Buys 4,051 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Harvest Fund Management Co. Ltd boosted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 765.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,580 shares of the company's stock after acquiring an additional 4,051 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in SPX Technologies were worth $730,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Algert Global LLC raised its stake in SPX Technologies by 49.6% during the third quarter. Algert Global LLC now owns 12,070 shares of the company's stock worth $1,925,000 after acquiring an additional 4,000 shares in the last quarter. Cerity Partners LLC raised its stake in SPX Technologies by 43.5% during the third quarter. Cerity Partners LLC now owns 3,434 shares of the company's stock worth $548,000 after acquiring an additional 1,041 shares in the last quarter. Citigroup Inc. raised its stake in SPX Technologies by 50.6% during the third quarter. Citigroup Inc. now owns 69,138 shares of the company's stock worth $11,025,000 after acquiring an additional 23,236 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of SPX Technologies by 16.8% in the third quarter. Raymond James Trust N.A. now owns 3,195 shares of the company's stock valued at $509,000 after buying an additional 459 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of SPX Technologies by 29.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company's stock valued at $99,408,000 after buying an additional 142,544 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Trading Down 1.4 %

SPX Technologies stock traded down $2.58 during mid-day trading on Tuesday, hitting $178.98. The stock had a trading volume of 324,598 shares, compared to its average volume of 249,924. The stock has a 50-day simple moving average of $162.86 and a two-hundred day simple moving average of $151.82. The stock has a market capitalization of $8.30 billion, a PE ratio of 48.11, a P/E/G ratio of 1.76 and a beta of 1.22. SPX Technologies, Inc. has a 12 month low of $83.98 and a 12 month high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

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

Wall Street Analyst Weigh In

Separately, Wolfe Research began coverage on SPX Technologies in a research note on Monday. They issued an "outperform" rating and a $199.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.