Tidal Investments LLC Purchases 188 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Tidal Investments LLC lifted its position in SPX Technologies, Inc. (NYSE:SPXC) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,026 shares of the company’s stock after buying an additional 188 shares during the period. Tidal Investments LLC’s holdings in SPX Technologies were worth $483,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC purchased a new position in SPX Technologies in the 2nd quarter worth approximately $51,070,000. Janus Henderson Group PLC increased its holdings in shares of SPX Technologies by 45.3% in the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock worth $111,100,000 after purchasing an additional 217,316 shares in the last quarter. Select Equity Group L.P. purchased a new position in shares of SPX Technologies in the second quarter worth $24,904,000. Hood River Capital Management LLC lifted its holdings 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 valued at $26,657,000 after purchasing an additional 174,537 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of SPX Technologies by 196.9% during the third quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock valued at $34,921,000 after buying an additional 145,225 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Up 0.2 %

SPXC stock opened at $143.55 on Monday. The business’s 50-day moving average is $163.21 and its two-hundred day moving average is $154.56. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 1.55 and a beta of 1.26. SPX Technologies, Inc. has a fifty-two week low of $95.00 and a fifty-two week high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

SPX Technologies (NYSE:SPXC) 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. The firm had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.06 EPS. As a group, analysts forecast that SPX Technologies, Inc. will post 5.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPXC has been the subject of a number of recent analyst reports. Wolfe Research assumed coverage on SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price for the company. Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $187.00 to $175.00 in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $164.00.

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.