Driehaus Capital Management LLC Has $47.81 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Driehaus Capital Management LLC boosted its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,377 shares of the company's stock after purchasing an additional 23,112 shares during the period. Driehaus Capital Management LLC owned about 0.73% of SPX Technologies worth $47,813,000 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 company. Evergreen Capital Management LLC grew its holdings in shares of SPX Technologies by 4.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company's stock valued at $503,000 after acquiring an additional 146 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of SPX Technologies by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 4,698 shares of the company's stock valued at $668,000 after acquiring an additional 174 shares in the last quarter. Xponance Inc. grew its holdings in shares of SPX Technologies by 7.1% in the 2nd quarter. Xponance Inc. now owns 2,864 shares of the company's stock valued at $407,000 after acquiring an additional 189 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of 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 acquiring an additional 193 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in SPX Technologies in the 2nd quarter valued at about $28,000. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Performance

NYSE:SPXC traded up $1.01 during mid-day trading on Friday, hitting $159.04. The stock had a trading volume of 163,602 shares, compared to its average volume of 253,870. SPX Technologies, Inc. has a twelve month low of $77.84 and a twelve month high of $165.13. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 77.58, a PEG ratio of 1.62 and a beta of 1.22. The company's 50 day simple moving average is $151.84 and its 200 day simple moving average is $139.36. 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 issued its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.17. The firm 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%. The business's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $1.06 earnings per share. On average, equities research analysts forecast that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analyst Ratings Changes

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

SPX Technologies Company 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.