Crestline Management LP Invests $398,000 in SPX Technologies, Inc. (NYSE:SPXC)

Crestline Management LP bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,735 shares of the company's stock, valued at approximately $398,000.

Several other hedge funds also recently modified their holdings of SPXC. Vanguard Group Inc. grew its holdings in shares of SPX Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock valued at $732,153,000 after acquiring an additional 89,770 shares in the last quarter. Invesco Ltd. grew its stake in SPX Technologies by 3.4% in the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock valued at $167,462,000 after purchasing an additional 37,468 shares during the period. Conestoga Capital Advisors LLC grew its stake in SPX Technologies by 25.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after purchasing an additional 160,535 shares during the period. FMR LLC increased its position in shares of SPX Technologies by 8.5% during the 4th quarter. FMR LLC now owns 718,298 shares of the company's stock valued at $104,527,000 after purchasing an additional 56,175 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of SPX Technologies by 16.1% during the 4th quarter. JPMorgan Chase & Co. now owns 685,445 shares of the company's stock worth $99,746,000 after purchasing an additional 94,893 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th.

SPX Technologies Stock Performance

Shares of NYSE SPXC traded up $2.71 during trading on Tuesday, reaching $156.94. 229,969 shares of the stock traded hands, compared to its average volume of 277,899. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The stock has a market capitalization of $7.33 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83. The company has a 50-day moving average of $134.30 and a 200-day moving average of $146.94.

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