Thoroughbred Financial Services LLC Makes New $625,000 Investment in SPX Technologies, Inc. (NYSE:SPXC)

Thoroughbred Financial Services LLC purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,400 shares of the company’s stock, valued at approximately $625,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPXC. Crewe Advisors LLC acquired a new position in SPX Technologies during the second quarter worth about $28,000. UMB Bank n.a. raised its holdings in shares of SPX Technologies by 965.0% in the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after purchasing an additional 193 shares in the last quarter. Hilltop National Bank bought a new stake in SPX Technologies during the second quarter worth approximately $39,000. YHB Investment Advisors Inc. acquired a new position in SPX Technologies in the first quarter worth approximately $51,000. Finally, GAMMA Investing LLC increased its holdings in shares of SPX Technologies by 122.6% in the second quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock valued at $60,000 after buying an additional 233 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of the stock in a transaction on 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 of the company’s stock, valued at $7,576,815.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.53% of the company’s stock.

Analyst Ratings Changes

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

SPX Technologies Stock Up 1.9 %

Shares of SPX Technologies stock opened at $153.87 on Tuesday. SPX Technologies, Inc. has a 1 year low of $77.84 and a 1 year high of $164.91. The company has a market cap of $7.12 billion, a P/E ratio of 75.06, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $150.28 and a 200 day moving average price of $136.87.

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

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.