Raymond James & Associates Increases Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Raymond James & Associates raised its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 30.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,098 shares of the company's stock after buying an additional 13,312 shares during the period. Raymond James & Associates owned 0.12% of SPX Technologies worth $9,105,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. bought a new stake in shares of SPX Technologies during the third quarter valued at approximately $44,000. V Square Quantitative Management LLC purchased a new stake in SPX Technologies during the third quarter valued at about $28,000. Creative Planning increased its position in shares of SPX Technologies by 17.6% during the third quarter. Creative Planning now owns 15,900 shares of the company's stock valued at $2,535,000 after buying an additional 2,374 shares during the period. Redhawk Wealth Advisors Inc. increased its position in shares of SPX Technologies by 2.4% during the third quarter. Redhawk Wealth Advisors Inc. now owns 18,260 shares of the company's stock valued at $2,912,000 after buying an additional 421 shares during the period. Finally, Private Advisory Group LLC bought a new position in shares of SPX Technologies in the third quarter worth approximately $819,000. Institutional investors and hedge funds 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 research report on Thursday, July 18th.

SPX Technologies Price Performance

NYSE SPXC traded down $0.28 on Wednesday, reaching $158.97. 187,595 shares of the company's stock traded hands, compared to its average volume of 247,507. SPX Technologies, Inc. has a 12 month low of $77.90 and a 12 month high of $173.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The stock has a 50-day simple moving average of $158.15 and a 200 day simple moving average of $146.23. The stock has a market cap of $7.35 billion, a PE ratio of 77.68, a P/E/G ratio of 1.58 and a beta of 1.21.

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, beating 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 for the quarter, compared to analysts' expectations of $492.08 million. During the same period last year, the business earned $1.06 earnings per share. The business's quarterly revenue was up 18.4% on a year-over-year basis. As a group, research 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.