Algert Global LLC Has $2.40 Million Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Algert Global LLC raised its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,463 shares of the company's stock after purchasing an additional 4,393 shares during the period. Algert Global LLC's holdings in SPX Technologies were worth $2,396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of SPX Technologies in the fourth quarter valued at about $279,000. Comerica Bank raised its holdings in shares of SPX Technologies by 25.4% during the fourth quarter. Comerica Bank now owns 86,267 shares of the company's stock worth $12,554,000 after purchasing an additional 17,472 shares during the period. Gallo Partners LP acquired a new stake in shares of SPX Technologies during the 4th quarter worth approximately $2,420,000. Schonfeld Strategic Advisors LLC boosted its stake in SPX Technologies by 178.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,470 shares of the company's stock valued at $942,000 after purchasing an additional 4,146 shares during the period. Finally, Northern Trust Corp increased its stake in SPX Technologies by 11.7% during the 4th quarter. Northern Trust Corp now owns 538,501 shares of the company's stock valued at $78,363,000 after buying an additional 56,221 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

NYSE SPXC traded down $1.59 on Wednesday, hitting $155.47. 34,342 shares of the company were exchanged, compared to its average volume of 276,935. The company has a market cap of $7.26 billion, a P/E ratio of 41.79, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $134.68 and a two-hundred day moving average of $147.01. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.22. The business had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPXC. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Wednesday, February 26th.

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.