Earnest Partners LLC Has $151.58 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Earnest Partners LLC increased its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,066,426 shares of the company's stock after buying an additional 33,675 shares during the period. Earnest Partners LLC owned about 2.30% of SPX Technologies worth $151,582,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in SPX Technologies in the fourth quarter worth $48,528,000. Conestoga Capital Advisors LLC bought a new stake in shares of SPX Technologies in the 2nd quarter worth approximately $51,070,000. Capital World Investors acquired a new position in SPX Technologies during the 4th quarter valued at approximately $29,121,000. Nordea Investment Management AB lifted its stake in SPX Technologies by 160.6% in the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company's stock valued at $47,069,000 after buying an additional 235,720 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of SPX Technologies by 86.8% during the first quarter. Principal Financial Group Inc. now owns 443,408 shares of the company's stock valued at $54,597,000 after acquiring an additional 206,054 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded down $1.87 on Thursday, hitting $158.02. The company had a trading volume of 166,915 shares, compared to its average volume of 254,584. SPX Technologies, Inc. has a 52 week low of $77.84 and a 52 week high of $165.13. The company has a market cap of $7.31 billion, a PE ratio of 77.08, a PEG ratio of 1.63 and a beta of 1.22. The business has a 50-day simple moving average of $151.30 and a 200-day simple moving average of $138.92. 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 (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.17. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The firm had revenue of $501.30 million for the quarter, compared to analyst estimates of $492.08 million. During the same period in the previous year, the company earned $1.06 earnings per share. SPX Technologies's revenue was up 18.4% compared to the same quarter last year. Research analysts expect that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Analyst Ratings Changes

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

About SPX Technologies

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.