Hood River Capital Management LLC Boosts Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Hood River Capital Management LLC raised its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 1,342.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,537 shares of the company’s stock after purchasing an additional 174,537 shares during the period. Hood River Capital Management LLC owned about 0.41% of SPX Technologies worth $26,657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in SPX Technologies in the fourth quarter valued at $48,528,000. Conestoga Capital Advisors LLC acquired a new stake in shares of SPX Technologies in the 2nd quarter valued at about $51,070,000. Capital World Investors bought a new position in shares of SPX Technologies during the fourth quarter worth about $29,121,000. Nordea Investment Management AB grew its stake in SPX Technologies by 160.6% in the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock worth $47,069,000 after purchasing an additional 235,720 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in SPX Technologies by 86.8% in the first quarter. Principal Financial Group Inc. now owns 443,408 shares of the company’s stock worth $54,597,000 after purchasing an additional 206,054 shares in the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

SPX Technologies Stock Down 0.3 %

SPXC stock opened at $162.57 on Monday. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 79.30, a PEG ratio of 1.54 and a beta of 1.22. SPX Technologies, Inc. has a 1-year low of $77.84 and a 1-year high of $165.13. The firm has a fifty day moving average price of $151.13 and a two-hundred day moving average price of $138.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $492.08 million. During the same quarter in the prior year, the firm earned $1.06 EPS. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. Research analysts predict that SPX Technologies, Inc. will post 5.54 EPS 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.