AQR Capital Management LLC Has $1.88 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

AQR Capital Management LLC lifted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 107.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,243 shares of the company's stock after buying an additional 6,859 shares during the quarter. AQR Capital Management LLC's holdings in SPX Technologies were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPXC. Granahan Investment Management LLC grew its position in shares of SPX Technologies by 0.8% during the 4th quarter. Granahan Investment Management LLC now owns 147,953 shares of the company's stock valued at $14,945,000 after buying an additional 1,246 shares during the last quarter. Cim LLC acquired a new stake in SPX Technologies in the 4th quarter valued at approximately $320,000. First Bank & Trust bought a new stake in SPX Technologies during the 1st quarter valued at $256,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in SPX Technologies during the 1st quarter worth $214,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in shares of SPX Technologies in the 1st quarter worth approximately $203,000. Institutional investors own 92.82% of the company's stock.

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.

SPX Technologies Price Performance

SPXC traded down $1.78 during midday trading on Thursday, hitting $163.94. The company had a trading volume of 155,802 shares, compared to its average volume of 249,308. SPX Technologies, Inc. has a twelve month low of $77.84 and a twelve month high of $166.92. The firm's 50-day simple moving average is $153.79 and its 200-day simple moving average is $141.92. The company has a market capitalization of $7.59 billion, a PE ratio of 80.84, a P/E/G ratio of 1.63 and a beta of 1.21. 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 announced its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.17. The business 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%. SPX Technologies's revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. Equities research analysts predict that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

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.