Conestoga Capital Advisors LLC Acquires 267,965 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Conestoga Capital Advisors LLC boosted its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 74.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,260 shares of the company's stock after buying an additional 267,965 shares during the quarter. SPX Technologies makes up about 1.4% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 27th largest position. Conestoga Capital Advisors LLC owned 1.36% of SPX Technologies worth $100,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPXC. Assenagon Asset Management S.A. increased its holdings in SPX Technologies by 132.0% in the third quarter. Assenagon Asset Management S.A. now owns 120,904 shares of the company's stock valued at $19,279,000 after purchasing an additional 68,798 shares during the last quarter. Signaturefd LLC raised its holdings in shares of SPX Technologies by 65.2% in the third quarter. Signaturefd LLC now owns 542 shares of the company's stock valued at $86,000 after purchasing an additional 214 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in SPX Technologies by 7.1% in the third quarter. Sequoia Financial Advisors LLC now owns 3,301 shares of the company's stock valued at $526,000 after purchasing an additional 219 shares in the last quarter. Jade Capital Advisors LLC bought a new stake in shares of SPX Technologies in the 3rd quarter valued at about $1,595,000. Finally, Raymond James & Associates raised its position in shares of SPX Technologies by 30.4% in the third quarter. Raymond James & Associates now owns 57,098 shares of the company's stock valued at $9,105,000 after purchasing an additional 13,312 shares during the period. 92.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

SPX Technologies Trading Up 1.2 %

Shares of NYSE:SPXC traded up $1.71 during mid-day trading on Friday, hitting $145.20. The company had a trading volume of 240,277 shares, compared to its average volume of 249,060. The company has a market capitalization of $6.72 billion, a PE ratio of 38.38, a price-to-earnings-growth ratio of 1.59 and a beta of 1.21. The firm has a fifty day moving average price of $158.01 and a 200 day moving average price of $146.29. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. SPX Technologies, Inc. has a one year low of $77.90 and a one year high of $173.30.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 20.17%. The business had revenue of $483.70 million for the quarter, compared to analysts' expectations of $501.02 million. During the same quarter last year, the firm earned $1.06 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that SPX Technologies, Inc. will post 5.54 EPS for the current 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.