Port Capital LLC Raises Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Port Capital LLC boosted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 319,884 shares of the company’s stock after buying an additional 825 shares during the period. SPX Technologies accounts for about 2.3% of Port Capital LLC’s investment portfolio, making the stock its 19th biggest holding. Port Capital LLC owned approximately 0.69% of SPX Technologies worth $51,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in SPX Technologies by 122.6% in the second quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock worth $60,000 after purchasing an additional 233 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in SPX Technologies by 99.9% in the second quarter. Harbor Capital Advisors Inc. now owns 10,485 shares of the company’s stock valued at $1,490,000 after buying an additional 5,239 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of SPX Technologies during the second quarter worth about $607,000. CWM LLC increased its holdings in shares of SPX Technologies by 547.8% during the second quarter. CWM LLC now owns 1,153 shares of the company’s stock valued at $164,000 after acquiring an additional 975 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in SPX Technologies by 476.2% in the 2nd quarter. SG Americas Securities LLC now owns 8,890 shares of the company’s stock worth $1,264,000 after acquiring an additional 7,347 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

Separately, Wolfe Research assumed coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $160.33.

SPX Technologies Trading Down 0.0 %

SPXC stock opened at $176.43 on Wednesday. The firm has a market cap of $8.18 billion, a P/E ratio of 47.43, a PEG ratio of 1.76 and a beta of 1.26. SPX Technologies, Inc. has a 52-week low of $86.42 and a 52-week high of $183.83. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The company’s 50-day simple moving average is $164.36 and its 200-day simple moving average is $153.08.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

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.