Versor Investments LP Invests $213,000 in SPX Technologies, Inc. (NYSE:SPXC)

Versor Investments LP bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,500 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its stake in SPX Technologies by 3.8% in 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 last quarter. UMB Bank n.a. raised 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 acquiring an additional 193 shares in the last quarter. Crewe Advisors LLC purchased a new stake in SPX Technologies in the second quarter valued at $28,000. US Bancorp DE boosted its stake in SPX Technologies by 3.3% in the fourth quarter. US Bancorp DE now owns 7,254 shares of the company’s stock valued at $733,000 after acquiring an additional 232 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 worth $60,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Oppenheimer lowered shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th.

Insider Buying and Selling at SPX Technologies

In other news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $143.89, for a total value of $5,670,992.68. Following the completion of the sale, the insider now owns 52,657 shares in the company, valued at approximately $7,576,815.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.53% of the stock is currently owned by corporate insiders.

SPX Technologies Price Performance

Shares of SPXC opened at $140.85 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28. SPX Technologies, Inc. has a fifty-two week low of $77.07 and a fifty-two week high of $164.91. The firm has a 50-day simple moving average of $149.70 and a 200-day simple moving average of $135.06. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 68.71, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22.

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