SPX Technologies, Inc. (NYSE:SPXC) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 31.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,856 shares of the company’s stock after purchasing an additional 28,433 shares during the quarter. Envestnet Asset Management Inc. owned about 0.25% of SPX Technologies worth $16,752,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SPXC. Norges Bank acquired a new position in SPX Technologies in the fourth quarter valued at $48,528,000. UBS Group AG increased its stake in SPX Technologies by 51.9% in the fourth quarter. UBS Group AG now owns 79,466 shares of the company’s stock valued at $8,027,000 after purchasing an additional 27,149 shares during the period. Coldstream Capital Management Inc. purchased a new stake in shares of SPX Technologies in the fourth quarter valued at about $219,000. Corient Private Wealth LLC boosted its holdings in shares of SPX Technologies by 58.7% in the fourth quarter. Corient Private Wealth LLC now owns 34,607 shares of the company’s stock valued at $3,496,000 after acquiring an additional 12,797 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of SPX Technologies by 3.3% in the fourth quarter. US Bancorp DE now owns 7,254 shares of the company’s stock valued at $733,000 after acquiring an additional 232 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SPX Technologies Stock Down 0.3 %

Shares of NYSE:SPXC opened at $162.13 on Tuesday. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 79.09, a PEG ratio of 1.54 and a beta of 1.22. The firm’s 50-day simple moving average is $151.22 and its 200-day simple moving average is $138.44. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40. SPX Technologies, Inc. has a fifty-two week low of $77.84 and a fifty-two week high of $165.13.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.17. The firm had revenue of $501.30 million for 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 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. As a group, equities research analysts predict that SPX Technologies, Inc. will post 5.54 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.