Gunderson Capital Management Inc. Invests $3.28 Million in SPX Technologies, Inc. (NYSE:SPXC)

Gunderson Capital Management Inc. purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,574 shares of the company's stock, valued at approximately $3,281,000. SPX Technologies makes up approximately 1.4% of Gunderson Capital Management Inc.'s portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in SPXC. First Trust Advisors LP raised its holdings in shares of SPX Technologies by 22.6% during the fourth quarter. First Trust Advisors LP now owns 265,396 shares of the company's stock worth $26,808,000 after purchasing an additional 48,860 shares during the period. Robeco Schweiz AG lifted its holdings in SPX Technologies by 43.9% in the fourth quarter. Robeco Schweiz AG now owns 194,098 shares of the company's stock worth $19,606,000 after acquiring an additional 59,243 shares during the last quarter. Granahan Investment Management LLC boosted its stake in SPX Technologies by 0.8% in the fourth quarter. Granahan Investment Management LLC now owns 147,953 shares of the company's stock valued at $14,945,000 after acquiring an additional 1,246 shares during the period. Cim LLC acquired a new position in SPX Technologies in the fourth quarter valued at approximately $320,000. Finally, First Bank & Trust bought a new position in shares of SPX Technologies during the first quarter valued at approximately $256,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

SPX Technologies Stock Performance

Shares of SPXC traded up $3.52 during mid-day trading on Wednesday, reaching $165.72. 149,696 shares of the company's stock traded hands, compared to its average volume of 247,577. 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 business's 50-day moving average price is $153.43 and its 200-day moving average price is $141.76. The stock has a market capitalization of $7.67 billion, a P/E ratio of 80.84, a price-to-earnings-growth ratio of 1.63 and a beta of 1.21. SPX Technologies, Inc. has a 12 month low of $77.84 and a 12 month high of $166.92.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly 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. The company had revenue of $501.30 million during 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. Equities analysts predict 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.