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

Thoroughbred Financial Services LLC purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,400 shares of the company’s stock, valued at approximately $625,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of SPX Technologies in the second quarter valued at about $28,000. UMB Bank n.a. raised its stake in shares of SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 193 shares during the period. Hilltop National Bank acquired a new position in shares of SPX Technologies during the second quarter worth $39,000. YHB Investment Advisors Inc. purchased a new position in shares of SPX Technologies in the first quarter valued at $51,000. Finally, GAMMA Investing LLC boosted its stake 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 purchasing an additional 233 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

SPX Technologies Trading Up 1.9 %

SPXC opened at $153.87 on Tuesday. SPX Technologies, Inc. has a 12-month low of $77.84 and a 12-month high of $164.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The stock has a market capitalization of $7.12 billion, a PE ratio of 75.06, a P/E/G ratio of 1.49 and a beta of 1.22. The firm’s fifty day moving average price is $150.28 and its 200 day moving average price is $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 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 business 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 firm earned $1.06 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, research analysts expect that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Insider Buying and Selling

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 52,657 shares in the company, valued at $7,576,815.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.53% of the stock is owned by company insiders.

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.