Edgestream Partners L.P. Has $1.15 Million Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Edgestream Partners L.P. lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 67.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,220 shares of the company's stock after selling 15,025 shares during the quarter. Edgestream Partners L.P.'s holdings in SPX Technologies were worth $1,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Conestoga Capital Advisors LLC bought a new position in SPX Technologies in the 2nd quarter valued at about $51,070,000. Select Equity Group L.P. bought a new position in SPX Technologies in the second quarter valued at approximately $24,904,000. Hood River Capital Management LLC raised its position in 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 valued at $26,657,000 after purchasing an additional 174,537 shares in the last quarter. Victory Capital Management Inc. lifted its stake in SPX Technologies by 196.9% during the third quarter. Victory Capital Management Inc. now owns 218,993 shares of the company's stock worth $34,921,000 after purchasing an additional 145,225 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of SPX Technologies by 29.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company's stock valued at $99,408,000 after purchasing an additional 142,544 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

SPX Technologies stock traded down $6.31 during mid-day trading on Thursday, reaching $169.89. The company had a trading volume of 240,531 shares, compared to its average volume of 249,133. The business has a fifty day simple moving average of $164.69 and a 200 day simple moving average of $153.24. The company has a market cap of $7.88 billion, a P/E ratio of 47.36, a P/E/G ratio of 1.77 and a beta of 1.26. SPX Technologies, Inc. has a fifty-two week low of $87.08 and a fifty-two week high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

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

Analysts Set New Price Targets

Separately, Wolfe Research began coverage on SPX Technologies in a research report on Monday, November 25th. They set an "outperform" rating and a $199.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $160.33.

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.