Earnest Partners LLC Raises Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Earnest Partners LLC lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,066,426 shares of the company’s stock after buying an additional 33,675 shares during the quarter. Earnest Partners LLC owned approximately 2.30% of SPX Technologies worth $151,582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in SPX Technologies during the 2nd quarter worth approximately $28,000. Canada Pension Plan Investment Board acquired a new position in SPX Technologies in the 2nd quarter valued at $28,000. UMB Bank n.a. boosted 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 purchasing an additional 193 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of SPX Technologies during the second quarter worth $39,000. Finally, YHB Investment Advisors Inc. acquired a new position in SPX Technologies during the first quarter worth about $51,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

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

SPX Technologies Trading Down 1.2 %

SPXC opened at $159.87 on Thursday. The stock has a market capitalization of $7.40 billion, a PE ratio of 77.99, a P/E/G ratio of 1.63 and a beta of 1.22. SPX Technologies, Inc. has a one year low of $77.84 and a one year high of $165.13. 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 business’s 50 day moving average price is $151.16 and its 200 day moving average price is $138.77.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) 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 firm had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. During the same period last year, the company earned $1.06 EPS. The company’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts expect that SPX Technologies, Inc. will post 5.54 EPS for the current 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.