Dimensional Fund Advisors LP Decreases Stake in SPX Technologies, Inc. (NYSE:SPXC)

Dimensional Fund Advisors LP reduced its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,094,157 shares of the company's stock after selling 4,367 shares during the period. Dimensional Fund Advisors LP owned approximately 2.37% of SPX Technologies worth $155,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SPXC. Envestnet Asset Management Inc. increased its holdings in SPX Technologies by 31.8% during the second quarter. Envestnet Asset Management Inc. now owns 117,856 shares of the company's stock valued at $16,752,000 after buying an additional 28,433 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of SPX Technologies by 8.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,835 shares of the company's stock valued at $2,677,000 after acquiring an additional 1,417 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in shares of SPX Technologies in the 2nd quarter worth $625,000. American Century Companies Inc. raised its holdings in SPX Technologies by 195.2% in the 2nd quarter. American Century Companies Inc. now owns 14,492 shares of the company's stock worth $2,060,000 after purchasing an additional 9,582 shares during the period. Finally, Choreo LLC bought a new position in SPX Technologies in the 2nd quarter worth $282,000. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

Shares of SPXC traded down $0.54 during mid-day trading on Friday, reaching $162.57. The stock had a trading volume of 911,549 shares, compared to its average volume of 255,146. The business has a fifty day moving average of $151.13 and a 200 day moving average of $137.96. 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 firm has a market cap of $7.53 billion, a price-to-earnings ratio of 79.30, a PEG ratio of 1.54 and a beta of 1.22. SPX Technologies, Inc. has a 12 month low of $77.84 and a 12 month high of $165.13.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider J Randall Data sold 39,412 shares of the business's stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $143.89, for a total value of $5,670,992.68. Following the transaction, the insider now directly owns 52,657 shares of the company's stock, valued at approximately $7,576,815.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.53% of the stock is currently owned by company 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.