Cable Hill Partners LLC Makes New $227,000 Investment in SPX Technologies, Inc. (NYSE:SPXC)

Cable Hill Partners LLC purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,421 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently modified their holdings of SPXC. Assetmark Inc. lifted its position in SPX Technologies by 4.7% during the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after acquiring an additional 78 shares during the last quarter. Evergreen Capital Management LLC grew its stake in SPX Technologies by 4.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock worth $503,000 after buying an additional 146 shares during the last quarter. Fifth Third Bancorp increased its position in SPX Technologies by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock valued at $668,000 after buying an additional 174 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in SPX Technologies in the third quarter valued at about $28,000. Finally, Xponance Inc. grew its stake in shares of SPX Technologies by 7.1% during the second quarter. Xponance Inc. now owns 2,864 shares of the company’s stock worth $407,000 after acquiring an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

SPX Technologies Stock Down 2.5 %

SPXC stock opened at $163.31 on Friday. SPX Technologies, Inc. has a one year low of $83.98 and a one year high of $173.30. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market cap of $7.57 billion, a PE ratio of 43.90, a P/E/G ratio of 1.68 and a beta of 1.22. The firm’s fifty day moving average is $158.68 and its 200 day moving average is $149.14.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. During the same period last year, the company posted $1.06 EPS. SPX Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts forecast that SPX Technologies, Inc. will post 5.56 EPS for the current 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.