Geneva Capital Management LLC Increases Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Geneva Capital Management LLC raised its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 453,285 shares of the company’s stock after acquiring an additional 581 shares during the period. SPX Technologies makes up 1.2% of Geneva Capital Management LLC’s portfolio, making the stock its 27th biggest position. Geneva Capital Management LLC owned about 0.98% of SPX Technologies worth $72,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of SPX Technologies by 195.2% in the second quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock worth $2,060,000 after acquiring an additional 9,582 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of SPX Technologies by 15.7% in the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock worth $10,485,000 after buying an additional 10,010 shares during the period. Capital World Investors grew its stake in shares of SPX Technologies by 31.7% in the first quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after buying an additional 91,266 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of SPX Technologies during the 1st quarter valued at about $1,013,000. Finally, Diversified Trust Co acquired a new position in SPX Technologies during the 2nd quarter worth approximately $798,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer lowered shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th.

SPX Technologies Stock Down 2.3 %

Shares of NYSE SPXC opened at $164.56 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a 1 year low of $83.15 and a 1 year high of $173.30. The stock’s 50-day simple moving average is $157.97 and its 200-day simple moving average is $148.71. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 44.24, a PEG ratio of 1.68 and a beta of 1.22.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data 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 company had revenue of $483.70 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $1.06 EPS. As a group, equities analysts anticipate that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

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.