Assenagon Asset Management S.A. Grows Position in SPX Technologies, Inc. (NYSE:SPXC)

Assenagon Asset Management S.A. raised its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 132.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,904 shares of the company's stock after buying an additional 68,798 shares during the period. Assenagon Asset Management S.A. owned approximately 0.26% of SPX Technologies worth $19,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies in the 3rd quarter worth about $28,000. Crewe Advisors LLC acquired a new position in SPX Technologies during the second quarter worth about $28,000. Canada Pension Plan Investment Board purchased a new stake in shares of SPX Technologies in the second quarter valued at about $28,000. UMB Bank n.a. grew its position in shares of SPX Technologies by 965.0% in the second quarter. UMB Bank n.a. now owns 213 shares of the company's stock valued at $30,000 after purchasing an additional 193 shares during the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in shares of SPX Technologies during the 3rd quarter worth approximately $44,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

SPX Technologies Price Performance

SPXC stock traded down $0.29 during trading on Friday, hitting $157.23. The stock had a trading volume of 131,174 shares, compared to its average volume of 248,049. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 76.70, a price-to-earnings-growth ratio of 1.59 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. The company's 50 day moving average price is $157.89 and its two-hundred day moving average price is $145.54. SPX Technologies, Inc. has a 1-year low of $77.90 and a 1-year high of $173.30.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.17. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The business had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. During the same period in the previous year, the firm posted $1.06 earnings per share. The company's quarterly revenue was up 18.4% compared to the same quarter last year. On average, sell-side analysts forecast that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal 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.