Bank of Montreal Can Buys 978 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Bank of Montreal Can raised its stake in SPX Technologies, Inc. (NYSE:SPXC) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,244 shares of the company’s stock after acquiring an additional 978 shares during the period. Bank of Montreal Can’s holdings in SPX Technologies were worth $1,201,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in SPX Technologies by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company’s stock worth $637,067,000 after acquiring an additional 173,021 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of SPX Technologies by 17.4% in the second quarter. Principal Financial Group Inc. now owns 520,416 shares of the company’s stock worth $73,972,000 after purchasing an additional 77,008 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of SPX Technologies by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company’s stock valued at $56,516,000 after purchasing an additional 8,931 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of SPX Technologies by 160.6% during the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock valued at $47,069,000 after buying an additional 235,720 shares during the last quarter. Finally, Capital World Investors increased its holdings in SPX Technologies by 31.7% in the 1st quarter. Capital World Investors now owns 379,569 shares of the company’s stock worth $46,736,000 after buying an additional 91,266 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Trading Up 2.3 %

NYSE:SPXC opened at $162.27 on Friday. The company has a 50 day simple moving average of $152.84 and a two-hundred day simple moving average of $141.02. The company has a market cap of $7.50 billion, a PE ratio of 79.16, a price-to-earnings-growth ratio of 1.60 and a beta of 1.21. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. SPX Technologies, Inc. has a 12 month low of $77.84 and a 12 month high of $165.13.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The company had revenue of $501.30 million during the quarter, compared to analysts’ expectations of $492.08 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. SPX Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. Research analysts forecast that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

SPX Technologies Company 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.