Jade Capital Advisors LLC Acquires New Position in SPX Technologies, Inc. (NYSE:SPXC)

Jade Capital Advisors LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, Holdings Channel.com reports. The fund bought 10,000 shares of the company’s stock, valued at approximately $1,595,000. SPX Technologies accounts for 1.0% of Jade Capital Advisors LLC’s holdings, making the stock its 29th largest holding.

A number of other large investors have also modified their holdings of SPXC. Nordea Investment Management AB lifted its stake in shares of SPX Technologies by 160.6% in the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock valued at $47,069,000 after purchasing an additional 235,720 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of SPX Technologies during the 1st quarter valued at approximately $1,522,000. American Century Companies Inc. boosted its stake in shares of SPX Technologies by 195.2% during the 2nd 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. grew its holdings in shares of SPX Technologies by 15.7% in the 2nd quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock worth $10,485,000 after acquiring an additional 10,010 shares during the period. Finally, Capital World Investors increased its stake in SPX Technologies by 31.7% in the 1st quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after purchasing an additional 91,266 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $160.75 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $157.37 and its 200 day moving average price is $144.69. SPX Technologies, Inc. has a 52 week low of $77.90 and a 52 week high of $173.30. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 72.41, a PEG ratio of 1.65 and a beta of 1.21.

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

Wall Street Analysts Forecast Growth

Separately, Oppenheimer cut SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

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.