Emerald Advisers LLC Acquires 38,161 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Emerald Advisers LLC raised its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 40.6% during the third quarter, HoldingsChannel.com reports. The fund owned 132,051 shares of the company’s stock after purchasing an additional 38,161 shares during the period. Emerald Advisers LLC’s holdings in SPX Technologies were worth $21,057,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SPXC. Emerald Mutual Fund Advisers Trust grew its holdings in shares of SPX Technologies by 30.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 97,982 shares of the company’s stock valued at $15,624,000 after purchasing an additional 22,645 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of SPX Technologies by 247.9% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock worth $80,000 after buying an additional 357 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of SPX Technologies by 74.6% during the third quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock worth $100,023,000 after buying an additional 267,965 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of SPX Technologies by 132.0% during the third quarter. Assenagon Asset Management S.A. now owns 120,904 shares of the company’s stock worth $19,279,000 after buying an additional 68,798 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of SPX Technologies by 65.2% during the 3rd quarter. Signaturefd LLC now owns 542 shares of the company’s stock valued at $86,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Trading Up 1.2 %

NYSE SPXC traded up $1.71 on Friday, hitting $145.20. The company’s stock had a trading volume of 273,046 shares, compared to its average volume of 221,029. The company’s 50-day moving average is $157.76 and its 200 day moving average is $146.67. The firm has a market cap of $6.72 billion, a PE ratio of 39.03, a PEG ratio of 1.43 and a beta of 1.22. SPX Technologies, Inc. has a 1-year low of $77.90 and a 1-year high of $173.30. The company has a quick ratio of 0.81, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

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

Analyst Upgrades and Downgrades

Separately, Oppenheimer cut SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

SPX Technologies 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.