6,030 Shares in SPX Technologies, Inc. (NYSE:SPXC) Bought by Acadian Asset Management LLC

Acadian Asset Management LLC bought a new position in SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,030 shares of the company’s stock, valued at approximately $856,000.

Several other large investors also recently modified their holdings of SPXC. Nordea Investment Management AB increased its position in SPX Technologies by 160.6% during the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock worth $47,069,000 after buying an additional 235,720 shares during the last quarter. GSA Capital Partners LLP acquired a new position in SPX Technologies in the first quarter valued at about $1,522,000. Victory Capital Management Inc. lifted its holdings in shares of SPX Technologies by 15.7% during the 2nd quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock worth $10,485,000 after acquiring an additional 10,010 shares during the period. Capital World Investors boosted its holdings in shares of SPX Technologies by 31.7% in the 1st quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after purchasing an additional 91,266 shares in the last quarter. Finally, Norges Bank bought a new position in SPX Technologies in the fourth quarter valued at about $48,528,000. 92.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

SPX Technologies Stock Up 1.9 %

SPX Technologies stock opened at $153.87 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 75.06, a PEG ratio of 1.49 and a beta of 1.22. The firm has a 50 day moving average price of $150.28 and a two-hundred day moving average price of $136.87. SPX Technologies, Inc. has a 52-week low of $77.84 and a 52-week high of $164.91.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.17. The company had revenue of $501.30 million during 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%. SPX Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS. Equities analysts predict that SPX Technologies, Inc. will post 5.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider J Randall Data sold 39,412 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the transaction, the insider now directly owns 52,657 shares in the company, valued at $7,576,815.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.53% of the company’s stock.

SPX Technologies Company 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.