Emerald Mutual Fund Advisers Trust Acquires Shares of 75,337 SPX Technologies, Inc. (NYSE:SPXC)

Emerald Mutual Fund Advisers Trust bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 75,337 shares of the company’s stock, valued at approximately $10,708,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Truist Financial Corp acquired a new stake in shares of SPX Technologies during the 4th quarter worth $631,000. Victory Capital Management Inc. grew its stake in SPX Technologies by 413.0% during the fourth quarter. Victory Capital Management Inc. now owns 68,132 shares of the company’s stock worth $6,882,000 after buying an additional 54,850 shares in the last quarter. Natixis Advisors L.P. increased its holdings in SPX Technologies by 6.6% in the 4th quarter. Natixis Advisors L.P. now owns 16,514 shares of the company’s stock valued at $1,668,000 after buying an additional 1,021 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of SPX Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 456,819 shares of the company’s stock valued at $46,143,000 after buying an additional 11,882 shares in the last quarter. Finally, AGF Management Ltd. acquired a new position in shares of SPX Technologies in the 4th quarter valued at approximately $7,408,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Oppenheimer cut shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th. StockNews.com downgraded SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th.

SPX Technologies Stock Down 3.4 %

Shares of NYSE:SPXC opened at $140.85 on Friday. SPX Technologies, Inc. has a 52-week low of $77.07 and a 52-week high of $164.91. The company has a market capitalization of $6.52 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28. The company has a fifty day moving average of $149.70 and a 200-day moving average of $135.24.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $492.08 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The firm’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts predict that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was 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 approximately $7,576,815.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.53% of the stock is currently owned by insiders.

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.