Capital CS Group LLC Buys New Shares in SPX Technologies, Inc. (NYSE:SPXC)

Capital CS Group LLC purchased a new position in SPX Technologies, Inc. (NYSE:SPXC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,658 shares of the company’s stock, valued at approximately $662,000. SPX Technologies makes up 0.7% of Capital CS Group LLC’s holdings, making the stock its 18th biggest position.

Several other institutional investors have also recently made changes to their positions in SPXC. Nordea Investment Management AB boosted its holdings in SPX Technologies by 160.6% in the 1st quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock worth $47,069,000 after buying an additional 235,720 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of SPX Technologies during the first quarter worth about $1,522,000. Knights of Columbus Asset Advisors LLC grew its position in shares of SPX Technologies by 240.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 59,531 shares of the company’s stock worth $6,013,000 after purchasing an additional 42,039 shares in the last quarter. Capital World Investors lifted 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 purchasing an additional 91,266 shares in the last quarter. Finally, Norges Bank bought a new position in SPX Technologies in the 4th quarter worth approximately $48,528,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded up $1.13 during trading hours on Friday, reaching $148.98. The company’s stock had a trading volume of 197,379 shares, compared to its average volume of 378,004. 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, Inc. has a one year low of $76.61 and a one year high of $164.91. The firm has a 50 day moving average price of $143.73 and a 200-day moving average price of $128.57. The stock has a market cap of $6.90 billion, a P/E ratio of 72.67, a P/E/G ratio of 1.46 and a beta of 1.20.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.17. The company had revenue of $501.30 million for the quarter, compared to analysts’ expectations of $492.08 million. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, analysts predict that SPX Technologies, Inc. will post 5.53 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPXC. StockNews.com downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. UBS Group raised their price target on SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. William Blair restated an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Finally, Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of SPX Technologies stock in a transaction on Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of the transaction, the insider now directly owns 52,657 shares of the company’s stock, valued at $7,576,815.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.53% of the stock is currently owned by insiders.

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.