Algert Global LLC Purchases 4,000 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Algert Global LLC boosted its position in SPX Technologies, Inc. (NYSE:SPXC) by 49.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,070 shares of the company’s stock after acquiring an additional 4,000 shares during the period. Algert Global LLC’s holdings in SPX Technologies were worth $1,925,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of SPX Technologies during the 3rd quarter worth approximately $28,000. Crewe Advisors LLC acquired a new stake in SPX Technologies during the 2nd quarter worth $28,000. Canada Pension Plan Investment Board bought a new stake in shares of SPX Technologies during the 2nd quarter valued at $28,000. UMB Bank n.a. lifted its stake in shares of SPX Technologies by 965.0% in the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 193 shares during the period. Finally, ST Germain D J Co. Inc. bought a new position in shares of SPX Technologies in the 3rd quarter worth $44,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wolfe Research assumed coverage on SPX Technologies in a research note on Monday. They issued an “outperform” rating and a $199.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $160.33.

SPX Technologies Price Performance

Shares of SPXC opened at $175.00 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market capitalization of $8.11 billion, a PE ratio of 47.04, a P/E/G ratio of 1.82 and a beta of 1.22. The stock has a 50 day simple moving average of $163.27 and a 200 day simple moving average of $151.98. SPX Technologies, Inc. has a 52-week low of $83.98 and a 52-week high of $183.83.

SPX Technologies (NYSE:SPXC) last issued 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. The company had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 earnings per share. Sell-side analysts predict that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal 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.