Farther Finance Advisors LLC Acquires 357 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Farther Finance Advisors LLC raised its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 247.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 501 shares of the company’s stock after acquiring an additional 357 shares during the quarter. Farther Finance Advisors LLC’s holdings in SPX Technologies were worth $80,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Conestoga Capital Advisors LLC acquired a new stake in SPX Technologies during the 2nd quarter worth $51,070,000. Capital International Investors acquired a new stake in shares of SPX Technologies in the first quarter valued at approximately $21,819,000. Select Equity Group L.P. bought a new stake in shares of SPX Technologies during the 2nd quarter worth about $24,904,000. Hood River Capital Management LLC lifted its holdings in SPX Technologies by 1,342.6% during the 2nd quarter. Hood River Capital Management LLC now owns 187,537 shares of the company’s stock worth $26,657,000 after purchasing an additional 174,537 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of SPX Technologies by 3.5% in the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company’s stock valued at $637,067,000 after acquiring an additional 173,021 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Down 2.3 %

SPXC opened at $164.56 on Wednesday. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 45.18, a P/E/G ratio of 1.69 and a beta of 1.22. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a twelve month low of $83.15 and a twelve month high of $173.30. The company has a 50-day simple moving average of $157.97 and a 200 day simple moving average of $148.71.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $483.70 million during 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 firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 EPS. Analysts predict that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer cut shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report 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.