First Horizon Advisors Inc. Has $41,000 Stake in SPX Technologies, Inc. (NYSE:SPXC)

First Horizon Advisors Inc. reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 20.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 259 shares of the company’s stock after selling 68 shares during the period. First Horizon Advisors Inc.’s holdings in SPX Technologies were worth $41,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPXC. Conestoga Capital Advisors LLC bought a new stake in shares of SPX Technologies in the 2nd quarter valued at $51,070,000. Select Equity Group L.P. acquired a new stake in SPX Technologies during the 2nd quarter worth about $24,904,000. Hood River Capital Management LLC grew its holdings in SPX Technologies by 1,342.6% during the 2nd quarter. Hood River Capital Management LLC now owns 187,537 shares of the company’s stock worth $26,657,000 after acquiring an additional 174,537 shares during the period. Victory Capital Management Inc. raised its position in shares of SPX Technologies by 196.9% in the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock worth $34,921,000 after acquiring an additional 145,225 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of SPX Technologies in the 2nd quarter valued at about $16,138,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 3.2 %

NYSE:SPXC opened at $181.56 on Tuesday. SPX Technologies, Inc. has a 12 month low of $83.98 and a 12 month 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. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 48.81, a PEG ratio of 1.76 and a beta of 1.22. The firm has a fifty day simple moving average of $162.39 and a two-hundred day simple moving average of $151.55.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. During the same period last year, the business posted $1.06 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts expect that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research began coverage on SPX Technologies in a research note on Monday. They set an “outperform” rating and a $199.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SPX Technologies has an average rating of “Hold” and an average price target of $160.33.

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.