Interval Partners LP Decreases Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Interval Partners LP trimmed its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 48.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,745 shares of the company's stock after selling 18,640 shares during the quarter. Interval Partners LP's holdings in SPX Technologies were worth $2,807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SPXC. Norges Bank acquired a new position in shares of SPX Technologies during the fourth quarter worth about $48,528,000. Conestoga Capital Advisors LLC acquired a new position in shares of SPX Technologies during the second quarter worth about $51,070,000. Capital World Investors acquired a new position in shares of SPX Technologies during the fourth quarter worth about $29,121,000. Nordea Investment Management AB increased its stake in shares of SPX Technologies by 160.6% during the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company's stock worth $47,069,000 after acquiring an additional 235,720 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in SPX Technologies by 86.8% during the first quarter. Principal Financial Group Inc. now owns 443,408 shares of the company's stock worth $54,597,000 after buying an additional 206,054 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

SPX Technologies Price Performance

SPXC stock traded down $0.36 during trading on Tuesday, reaching $161.73. 291,874 shares of the company were exchanged, compared to its average volume of 255,282. The company has a market cap of $7.48 billion, a P/E ratio of 79.09, a PEG ratio of 1.54 and a beta of 1.22. SPX Technologies, Inc. has a 52-week low of $77.84 and a 52-week high of $165.13. The stock's 50 day moving average price is $151.22 and its 200 day moving average price is $138.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.17. The firm had revenue of $501.30 million for 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%. The firm's revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 earnings per share. As a group, analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share for the current fiscal year.

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.