Private Advisory Group LLC Acquires New Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Private Advisory Group LLC purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,135 shares of the company's stock, valued at approximately $819,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in SPX Technologies by 3.5% in the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company's stock worth $637,067,000 after purchasing an additional 173,021 shares during the period. Earnest Partners LLC grew its holdings in SPX Technologies by 3.3% in the second quarter. Earnest Partners LLC now owns 1,066,426 shares of the company's stock worth $151,582,000 after purchasing an additional 33,675 shares during the period. Principal Financial Group Inc. grew its holdings in SPX Technologies by 17.4% in the second quarter. Principal Financial Group Inc. now owns 520,416 shares of the company's stock worth $73,972,000 after purchasing an additional 77,008 shares during the period. Bank of New York Mellon Corp grew its holdings in SPX Technologies by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company's stock worth $56,516,000 after purchasing an additional 8,931 shares during the period. Finally, Nordea Investment Management AB grew its holdings in SPX Technologies by 160.6% in the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company's stock worth $47,069,000 after purchasing an additional 235,720 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

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

SPX Technologies Stock Up 2.9 %

Shares of NYSE SPXC traded up $4.72 during midday trading on Friday, hitting $168.80. The stock had a trading volume of 348,332 shares, compared to its average volume of 249,811. The business's 50 day moving average is $154.69 and its 200-day moving average is $142.43. The company has a market cap of $7.81 billion, a P/E ratio of 76.04, a PEG ratio of 1.66 and a beta of 1.21. SPX Technologies, Inc. has a 52 week low of $77.84 and a 52 week high of $169.52. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results 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 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%. The business's revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. As a group, analysts predict that SPX Technologies, Inc. will post 5.54 EPS for the current year.

SPX Technologies 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.