Emerald Advisers LLC Has $21.06 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

Emerald Advisers LLC grew its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 40.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,051 shares of the company's stock after acquiring an additional 38,161 shares during the period. Emerald Advisers LLC owned about 0.29% of SPX Technologies worth $21,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPXC. Crewe Advisors LLC bought a new position in shares of SPX Technologies in the 2nd quarter valued at about $28,000. Canada Pension Plan Investment Board acquired a new stake in shares of SPX Technologies during the 2nd quarter worth about $28,000. V Square Quantitative Management LLC acquired a new stake in shares of SPX Technologies during the 3rd quarter worth about $28,000. UMB Bank n.a. lifted its stake in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company's stock worth $30,000 after buying an additional 193 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of SPX Technologies during the 2nd quarter worth about $39,000. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Performance

SPX Technologies stock traded up $1.71 during midday trading on Friday, hitting $145.20. The company's stock had a trading volume of 273,046 shares, compared to its average volume of 221,029. SPX Technologies, Inc. has a 1-year low of $77.90 and a 1-year high of $173.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 0.81. The company has a 50-day moving average price of $157.76 and a two-hundred day moving average price of $146.87. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 1.43 and a beta of 1.22.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $483.70 million during the quarter, compared to analysts' expectations of $501.02 million. During the same quarter in the previous year, the company earned $1.06 EPS. The business's revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 5.56 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.