CIBC Asset Management Inc Acquires Shares of 1,310 SPX Technologies, Inc. (NYSE:SPXC)

CIBC Asset Management Inc bought a new position in SPX Technologies, Inc. (NYSE:SPXC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,310 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also modified their holdings of SPXC. Vanguard Group Inc. raised its stake in SPX Technologies by 3.5% during the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company’s stock worth $637,067,000 after acquiring an additional 173,021 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of SPX Technologies in the 1st quarter worth about $349,000. Bessemer Group Inc. lifted its holdings in SPX Technologies by 22.8% during the 1st quarter. Bessemer Group Inc. now owns 4,492 shares of the company’s stock valued at $553,000 after purchasing an additional 835 shares during the last quarter. Capital International Investors acquired a new position in SPX Technologies in the first quarter valued at about $21,819,000. Finally, Capital World Investors grew its stake in SPX Technologies by 31.7% during the first quarter. Capital World Investors now owns 379,569 shares of the company’s stock worth $46,736,000 after buying an additional 91,266 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

NYSE SPXC opened at $176.01 on Friday. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 1.68 and a beta of 1.22. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 1-year low of $83.98 and a 1-year high of $176.35. The company has a 50 day moving average of $161.84 and a 200-day moving average of $151.02.

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

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.