Emerald Mutual Fund Advisers Trust Boosts Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Emerald Mutual Fund Advisers Trust lifted its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 30.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 97,982 shares of the company’s stock after purchasing an additional 22,645 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.21% of SPX Technologies worth $15,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in SPX Technologies during the 3rd quarter valued at approximately $28,000. Crewe Advisors LLC purchased a new stake in SPX Technologies during the 2nd quarter worth approximately $28,000. Canada Pension Plan Investment Board acquired a new position in shares of SPX Technologies during the second quarter valued at approximately $28,000. UMB Bank n.a. lifted its holdings in SPX Technologies by 965.0% in the 2nd 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, ST Germain D J Co. Inc. acquired a new position in SPX Technologies during the third quarter worth about $44,000. 92.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

SPX Technologies Price Performance

SPXC opened at $145.20 on Friday. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 1.43 and a beta of 1.22. The company has a current ratio of 1.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average price is $157.76 and its 200 day moving average price is $146.67. SPX Technologies, Inc. has a 12-month low of $77.90 and a 12-month high of $173.30.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. As a group, sell-side analysts expect that SPX Technologies, Inc. will post 5.56 earnings per share for the current 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.