Mesirow Institutional Investment Management Inc. Boosts Position in SPX Technologies, Inc. (NYSE:SPXC)

Mesirow Institutional Investment Management Inc. raised its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 73,032 shares of the company’s stock after purchasing an additional 1,121 shares during the quarter. Mesirow Institutional Investment Management Inc. owned 0.16% of SPX Technologies worth $10,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of SPX Technologies in the fourth quarter worth about $48,528,000. Conestoga Capital Advisors LLC bought a new stake in shares of SPX Technologies during the 2nd quarter valued at $51,070,000. Brown Advisory Inc. lifted its stake in shares of SPX Technologies by 416.7% during the 4th quarter. Brown Advisory Inc. now owns 435,596 shares of the company’s stock valued at $44,000,000 after buying an additional 351,289 shares in the last quarter. Capital World Investors bought a new position in SPX Technologies in the 4th quarter worth $29,121,000. Finally, Nordea Investment Management AB raised its holdings in SPX Technologies by 160.6% during the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock valued at $47,069,000 after acquiring an additional 235,720 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

SPXC has been the topic of a number of research analyst reports. StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. UBS Group boosted their price target on shares of SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Finally, Oppenheimer cut SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

SPX Technologies Trading Down 8.8 %

Shares of NYSE SPXC opened at $148.79 on Wednesday. The stock has a market capitalization of $6.89 billion, a P/E ratio of 72.58, a PEG ratio of 1.64 and a beta of 1.22. SPX Technologies, Inc. has a 1-year low of $76.61 and a 1-year high of $164.91. The business’s 50 day moving average is $149.51 and its two-hundred day moving average is $134.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.17. The business had revenue of $501.30 million for the quarter, compared to the consensus estimate of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. As a group, research analysts expect that SPX Technologies, Inc. will post 5.54 EPS for the current year.

Insider Buying and Selling

In related news, insider J Randall Data sold 39,412 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of the transaction, the insider now owns 52,657 shares in the company, valued at approximately $7,576,815.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.53% of the stock is owned by corporate insiders.

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.