Gunderson Capital Management Inc. Purchases Shares of 20,574 SPX Technologies, Inc. (NYSE:SPXC)

Gunderson Capital Management Inc. bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,574 shares of the company’s stock, valued at approximately $3,281,000. SPX Technologies accounts for about 1.4% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds have also bought and sold shares of SPXC. First Trust Advisors LP increased its position in shares of SPX Technologies by 22.6% in the fourth quarter. First Trust Advisors LP now owns 265,396 shares of the company’s stock valued at $26,808,000 after buying an additional 48,860 shares in the last quarter. Robeco Schweiz AG increased its holdings in SPX Technologies by 43.9% in the 4th quarter. Robeco Schweiz AG now owns 194,098 shares of the company’s stock worth $19,606,000 after acquiring an additional 59,243 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in SPX Technologies by 0.8% during the fourth quarter. Granahan Investment Management LLC now owns 147,953 shares of the company’s stock valued at $14,945,000 after purchasing an additional 1,246 shares in the last quarter. Cim LLC acquired a new stake in shares of SPX Technologies in the fourth quarter valued at about $320,000. Finally, First Bank & Trust purchased a new stake in shares of SPX Technologies during the first quarter worth about $256,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Up 2.6 %

Shares of NYSE SPXC traded up $4.16 during mid-day trading on Wednesday, hitting $166.36. The company had a trading volume of 53,860 shares, compared to its average volume of 249,281. The company has a market capitalization of $7.69 billion, a PE ratio of 79.11, a price-to-earnings-growth ratio of 1.60 and a beta of 1.21. The business’s 50-day simple moving average is $153.43 and its 200 day simple moving average is $141.76. SPX Technologies, Inc. has a 1-year low of $77.84 and a 1-year high of $166.75. 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 issued its quarterly earnings results 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. The company had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 earnings per share. On average, analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.