Janus Henderson Group PLC Boosts Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Janus Henderson Group PLC lifted its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 45.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 696,713 shares of the company's stock after purchasing an additional 217,316 shares during the period. Janus Henderson Group PLC owned about 1.50% of SPX Technologies worth $111,100,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Earnest Partners LLC raised its stake in SPX Technologies by 3.3% during the 2nd quarter. Earnest Partners LLC now owns 1,066,426 shares of the company's stock worth $151,582,000 after acquiring an additional 33,675 shares during the period. Conestoga Capital Advisors LLC raised its stake in SPX Technologies by 74.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company's stock worth $100,023,000 after acquiring an additional 267,965 shares during the period. Charles Schwab Investment Management Inc. raised its stake in SPX Technologies by 29.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company's stock worth $99,408,000 after acquiring an additional 142,544 shares during the period. Principal Financial Group Inc. raised its stake in SPX Technologies by 17.4% during the 2nd quarter. Principal Financial Group Inc. now owns 520,416 shares of the company's stock worth $73,972,000 after acquiring an additional 77,008 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in SPX Technologies by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company's stock worth $56,516,000 after acquiring an additional 8,931 shares during the period. Institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded down $6.22 on Thursday, hitting $169.98. 240,531 shares of the company traded hands, compared to its average volume of 249,133. The stock has a market capitalization of $7.88 billion, a P/E ratio of 45.69, a price-to-earnings-growth ratio of 1.77 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a 52 week low of $87.08 and a 52 week high of $183.83. The business has a 50-day simple moving average of $164.93 and a 200 day simple moving average of $153.36.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.01. The firm had revenue of $483.70 million during 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%. SPX Technologies's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. Research analysts expect that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an "outperform" rating and a $199.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, SPX Technologies currently 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.