SPX Technologies, Inc. (NYSE:SPXC) is Corsair Capital Management L.P.’s 8th Largest Position

Corsair Capital Management L.P. increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 80,185.2% during the third quarter, HoldingsChannel reports. The firm owned 114,005 shares of the company’s stock after acquiring an additional 113,863 shares during the period. SPX Technologies accounts for approximately 4.3% of Corsair Capital Management L.P.’s holdings, making the stock its 8th biggest position. Corsair Capital Management L.P.’s holdings in SPX Technologies were worth $18,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in SPX Technologies during the 2nd quarter worth about $28,000. Canada Pension Plan Investment Board purchased a new stake in SPX Technologies in the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new position in shares of SPX Technologies during the 3rd quarter valued at $28,000. UMB Bank n.a. grew its stake in SPX Technologies by 965.0% in the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 193 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in SPX Technologies in the 2nd quarter worth about $39,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wolfe Research started coverage on SPX Technologies in a report on Monday. They issued an “outperform” rating and a $199.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $160.33.

SPX Technologies Trading Down 1.4 %

SPX Technologies stock opened at $178.98 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 48.11, a PEG ratio of 1.82 and a beta of 1.22. SPX Technologies, Inc. has a one year low of $83.98 and a one year high of $183.83. The company’s fifty day moving average price is $162.86 and its two-hundred day moving average price is $151.82.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 earnings per share. On average, analysts forecast that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

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.