Edgestream Partners L.P. Has $3.16 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Edgestream Partners L.P. trimmed its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 14.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,245 shares of the company's stock after selling 3,866 shares during the period. Edgestream Partners L.P.'s holdings in SPX Technologies were worth $3,162,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in shares of SPX Technologies in the second quarter valued at approximately $28,000. UMB Bank n.a. increased its stake in SPX Technologies by 965.0% in the 2nd 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. Hilltop National Bank acquired a new position in SPX Technologies in the 2nd quarter valued at $39,000. YHB Investment Advisors Inc. acquired a new position in SPX Technologies in the 1st quarter valued at $51,000. Finally, GAMMA Investing LLC grew 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 purchasing an additional 233 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Trading Up 5.5 %

SPXC stock traded up $8.52 during midday trading on Thursday, reaching $163.37. 387,777 shares of the company's stock traded hands, compared to its average volume of 251,520. The company has a market capitalization of $7.55 billion, a P/E ratio of 79.69, a PEG ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. SPX Technologies, Inc. has a fifty-two week low of $77.84 and a fifty-two week high of $164.91. The business has a 50-day moving average price of $150.74 and a two-hundred day moving average price of $137.28.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.17. The company had revenue of $501.30 million for the quarter, compared to analyst estimates of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The business's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. Equities research analysts forecast that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer cut shares of SPX Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 18th.

Insider Buying and Selling at SPX Technologies

In other news, insider J Randall Data sold 39,412 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now owns 52,657 shares of the company's stock, valued at $7,576,815.73. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.53% of the stock is owned by insiders.

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.