Seven Eight Capital LP Acquires New Position in SPX Technologies, Inc. (NYSE:SPXC)

Seven Eight Capital LP bought a new position in SPX Technologies, Inc. (NYSE:SPXC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,337 shares of the company’s stock, valued at approximately $474,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of SPX Technologies in the second quarter worth approximately $28,000. UMB Bank n.a. boosted its holdings in 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 period. Hilltop National Bank purchased a new stake in SPX Technologies in the 2nd quarter worth $39,000. YHB Investment Advisors Inc. bought a new stake in SPX Technologies during the first quarter valued at about $51,000. Finally, GAMMA Investing LLC lifted its position 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 acquiring an additional 233 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

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

SPX Technologies Price Performance

SPXC stock opened at $162.57 on Monday. 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 company’s fifty day moving average price is $151.13 and its 200-day moving average price is $138.12. SPX Technologies, Inc. has a one year low of $77.84 and a one year high of $165.13. The company has a market capitalization of $7.52 billion, a PE ratio of 79.30, a price-to-earnings-growth ratio of 1.54 and a beta of 1.22.

SPX Technologies (NYSE:SPXC) last announced 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. The business had revenue of $501.30 million for the quarter, compared to analysts’ expectations of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. On average, equities analysts anticipate that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal 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.