Public Sector Pension Investment Board Increases Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Public Sector Pension Investment Board boosted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,678 shares of the company’s stock after acquiring an additional 8,105 shares during the period. Public Sector Pension Investment Board owned 0.22% of SPX Technologies worth $14,453,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in SPX Technologies by 3.8% in the second quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock worth $668,000 after purchasing an additional 174 shares in the last quarter. UMB Bank n.a. boosted its stake in SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 193 shares in the last quarter. Crewe Advisors LLC purchased a new stake in SPX Technologies in the second quarter worth about $28,000. Canada Pension Plan Investment Board bought a new position in shares of SPX Technologies during the second quarter valued at approximately $28,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of SPX Technologies by 3.4% during the second quarter. Hsbc Holdings PLC now owns 6,886 shares of the company’s stock valued at $989,000 after purchasing an additional 226 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Stock Down 0.3 %

NYSE:SPXC opened at $162.13 on Tuesday. 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 firm has a market cap of $7.50 billion, a P/E ratio of 79.09, a P/E/G ratio of 1.54 and a beta of 1.22. SPX Technologies, Inc. has a fifty-two week low of $77.84 and a fifty-two week high of $165.13. The firm has a 50-day simple moving average of $151.22 and a two-hundred day simple moving average of $138.44.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. Analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About SPX Technologies

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.