SPX Technologies, Inc. (NYSE:SPXC) Stake Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 132.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,904 shares of the company’s stock after purchasing an additional 68,798 shares during the period. Assenagon Asset Management S.A.’s holdings in SPX Technologies were worth $19,279,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its holdings in shares of SPX Technologies by 4.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock worth $503,000 after purchasing an additional 146 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of SPX Technologies by 3.8% during the second quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock valued at $668,000 after purchasing an additional 174 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of SPX Technologies during the third quarter valued at about $28,000. Xponance Inc. lifted its holdings in SPX Technologies by 7.1% in the second quarter. Xponance Inc. now owns 2,864 shares of the company’s stock worth $407,000 after purchasing an additional 189 shares during the period. Finally, UMB Bank n.a. grew its position in 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 buying an additional 193 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Down 0.2 %

Shares of SPX Technologies stock opened at $157.23 on Friday. The business has a fifty day simple moving average of $157.89 and a 200-day simple moving average of $145.38. SPX Technologies, Inc. has a fifty-two week low of $77.90 and a fifty-two week high of $173.30. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 76.70, a price-to-earnings-growth ratio of 1.59 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.17. The firm had revenue of $501.30 million for the quarter, compared to analyst estimates of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer lowered shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th.

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.