SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 67.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,220 shares of the company’s stock after selling 15,025 shares during the period. Edgestream Partners L.P.’s holdings in SPX Technologies were worth $1,151,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SPXC. Crewe Advisors LLC acquired a new position in SPX Technologies during the 2nd quarter worth $28,000. Canada Pension Plan Investment Board bought a new position in shares of SPX Technologies in the 2nd quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in shares of SPX Technologies in the 3rd quarter worth about $28,000. UMB Bank n.a. lifted its position 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 buying an additional 193 shares during the last quarter. Finally, ST Germain D J Co. Inc. bought a new position in shares of SPX Technologies in the 3rd quarter worth about $44,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.33.

SPX Technologies Trading Down 0.2 %

Shares of NYSE:SPXC opened at $176.19 on Thursday. The company has a market cap of $8.17 billion, a PE ratio of 47.36, a P/E/G ratio of 1.76 and a beta of 1.26. The company’s 50-day moving average price is $164.69 and its 200 day moving average price is $153.24. SPX Technologies, Inc. has a fifty-two week low of $87.08 and a fifty-two week high of $183.83. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

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