Peregrine Asset Advisers Inc. Takes $2.60 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

Peregrine Asset Advisers Inc. purchased a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,275 shares of the company's stock, valued at approximately $2,595,000.

Several other institutional investors have also bought and sold shares of the business. Conestoga Capital Advisors LLC bought a new position in SPX Technologies during the second quarter valued at $51,070,000. Capital International Investors purchased a new stake in SPX Technologies in the 1st quarter worth about $21,819,000. Select Equity Group L.P. purchased a new position in shares of SPX Technologies during the second quarter valued at approximately $24,904,000. Hood River Capital Management LLC lifted its position in shares of SPX Technologies by 1,342.6% during the second quarter. Hood River Capital Management LLC now owns 187,537 shares of the company's stock worth $26,657,000 after purchasing an additional 174,537 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in SPX Technologies by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company's stock worth $637,067,000 after acquiring an additional 173,021 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Analysts Set New Price Targets

Separately, Oppenheimer downgraded 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

Shares of SPX Technologies stock traded down $0.27 during mid-day trading on Monday, reaching $168.82. 89,263 shares of the stock traded hands, compared to its average volume of 250,700. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $157.87 and a 200 day moving average of $148.37. The stock has a market capitalization of $7.83 billion, a PE ratio of 45.45, a PEG ratio of 1.69 and a beta of 1.22. SPX Technologies, Inc. has a fifty-two week low of $83.15 and a fifty-two week high of $173.30.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.01. The company had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. SPX Technologies's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. On average, analysts predict that SPX Technologies, Inc. will post 5.56 EPS 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.