Harvest Fund Management Co. Ltd Acquires 4,051 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Harvest Fund Management Co. Ltd boosted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 765.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,580 shares of the company’s stock after acquiring an additional 4,051 shares during the period. Harvest Fund Management Co. Ltd’s holdings in SPX Technologies were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Algert Global LLC boosted its holdings in shares of SPX Technologies by 49.6% in the 3rd quarter. Algert Global LLC now owns 12,070 shares of the company’s stock valued at $1,925,000 after buying an additional 4,000 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of SPX Technologies by 43.5% in the 3rd quarter. Cerity Partners LLC now owns 3,434 shares of the company’s stock valued at $548,000 after buying an additional 1,041 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of SPX Technologies by 50.6% in the 3rd quarter. Citigroup Inc. now owns 69,138 shares of the company’s stock valued at $11,025,000 after buying an additional 23,236 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of SPX Technologies by 16.8% in the 3rd quarter. Raymond James Trust N.A. now owns 3,195 shares of the company’s stock valued at $509,000 after buying an additional 459 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of SPX Technologies by 29.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company’s stock valued at $99,408,000 after buying an additional 142,544 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $181.56 on Tuesday. The firm has a market capitalization of $8.42 billion, a P/E ratio of 48.81, a PEG ratio of 1.76 and a beta of 1.22. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $162.39 and a 200 day moving average price of $151.55. SPX Technologies, Inc. has a 52 week low of $83.98 and a 52 week high of $183.83.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. SPX Technologies’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. Sell-side analysts expect that SPX Technologies, Inc. will post 5.56 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wolfe Research initiated coverage on shares of SPX Technologies in a report on Monday. They issued an “outperform” rating and a $199.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, SPX Technologies presently has an average rating of “Hold” and a consensus target price of $160.33.

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.