Handelsbanken Fonder AB Grows Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Handelsbanken Fonder AB lifted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 23.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,609 shares of the company’s stock after acquiring an additional 2,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in SPX Technologies were worth $1,851,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of SPX Technologies in the second quarter valued at about $28,000. Canada Pension Plan Investment Board acquired a new stake in SPX Technologies in the 2nd quarter worth about $28,000. UMB Bank n.a. increased its stake in SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 193 shares in the last quarter. Hilltop National Bank acquired a new position in shares of SPX Technologies during the second quarter valued at approximately $39,000. Finally, GAMMA Investing LLC raised its holdings in shares of SPX Technologies by 122.6% during the second quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock valued at $60,000 after acquiring an additional 233 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

SPX Technologies Stock Performance

SPX Technologies stock opened at $163.94 on Friday. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 79.97, a price-to-earnings-growth ratio of 1.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $153.79 and a 200-day simple moving average of $141.92. SPX Technologies, Inc. has a 1-year low of $77.84 and a 1-year high of $166.92.

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

SPX Technologies 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.