American Century Companies Inc. Boosts Stake in SPX Technologies, Inc. (NYSE:SPXC)

American Century Companies Inc. boosted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 195.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,492 shares of the company's stock after buying an additional 9,582 shares during the period. American Century Companies Inc.'s holdings in SPX Technologies were worth $2,060,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SPXC. Choreo LLC bought a new position in SPX Technologies in the 2nd quarter valued at $282,000. Emerald Advisers LLC bought a new stake in shares of SPX Technologies during the second quarter valued at approximately $13,346,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of SPX Technologies in the second quarter valued at approximately $10,708,000. Acadian Asset Management LLC bought a new position in SPX Technologies in the second quarter worth approximately $856,000. Finally, Private Advisor Group LLC purchased a new position in SPX Technologies during the 2nd quarter worth $979,000. 92.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

SPX Technologies Stock Up 0.6 %

NYSE SPXC traded up $1.01 during midday trading on Friday, hitting $159.04. 163,602 shares of the company traded hands, compared to its average volume of 253,870. SPX Technologies, Inc. has a 52 week low of $77.84 and a 52 week high of $165.13. The company's 50-day simple moving average is $151.84 and its 200-day simple moving average is $139.53. The company has a market cap of $7.36 billion, a PE ratio of 77.58, a price-to-earnings-growth ratio of 1.62 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 (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 19.20% and a net margin of 5.53%. The firm's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 earnings per share. As a group, equities research analysts forecast that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

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.