Edgestream Partners L.P. Has $6.85 Million Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Edgestream Partners L.P. lifted its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 764.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,213 shares of the company's stock after purchasing an additional 47,060 shares during the period. Edgestream Partners L.P. owned about 0.11% of SPX Technologies worth $6,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in SPX Technologies by 25.4% during the 4th quarter. Comerica Bank now owns 86,267 shares of the company's stock worth $12,554,000 after buying an additional 17,472 shares during the period. Hsbc Holdings PLC grew its position in shares of SPX Technologies by 61.4% during the fourth quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock worth $1,620,000 after acquiring an additional 4,229 shares during the last quarter. Bessemer Group Inc. grew its position in SPX Technologies by 1,544.0% in the 1st quarter. Bessemer Group Inc. now owns 6,757 shares of the company's stock valued at $870,000 after buying an additional 6,346 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in SPX Technologies in the 4th quarter valued at $279,000. Finally, Farther Finance Advisors LLC boosted its position in shares of SPX Technologies by 18.5% during the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after purchasing an additional 98 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Rick D. Puckett sold 6,823 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the completion of the transaction, the director owned 33,770 shares of the company's stock, valued at $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.32% of the stock is owned by corporate insiders.

SPX Technologies Stock Down 1.4%

NYSE SPXC traded down $2.43 on Friday, reaching $177.69. The company had a trading volume of 124,191 shares, compared to its average volume of 286,189. The firm has a market capitalization of $8.30 billion, a PE ratio of 41.42, a P/E/G ratio of 1.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.88 and a quick ratio of 1.24. The firm has a 50-day moving average of $160.79 and a 200-day moving average of $147.24. 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 posted 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. SPX Technologies had a return on equity of 19.67% and a net margin of 10.13%. The business had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same period in the prior year, the company posted $1.25 EPS. The business's revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. B. Riley assumed coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $160.00 to $182.00 in a research report on Monday, June 2nd. Finally, Oppenheimer boosted their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $189.60.

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.