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

Jade Capital Advisors LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,000 shares of the company’s stock, valued at approximately $1,595,000. SPX Technologies makes up about 1.0% of Jade Capital Advisors LLC’s investment portfolio, making the stock its 29th biggest position.

Several other large investors also recently bought and sold shares of SPXC. First Bank & Trust purchased a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $256,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in SPX Technologies in the first quarter valued at $214,000. First Trust Direct Indexing L.P. acquired a new stake in SPX Technologies in the first quarter valued at $203,000. Capstone Investment Advisors LLC acquired a new position in shares of SPX Technologies during the 1st quarter worth about $280,000. Finally, Palisade Asset Management LLC acquired a new position in shares of SPX Technologies during the 1st quarter worth about $74,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

SPX Technologies Stock Performance

NYSE SPXC opened at $160.75 on Tuesday. The company has a fifty day moving average of $157.37 and a two-hundred day moving average of $144.69. The company has a market capitalization of $7.44 billion, a PE ratio of 72.41, a P/E/G ratio of 1.65 and a beta of 1.21. SPX Technologies, Inc. has a 1 year low of $77.90 and a 1 year high of $173.30. 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 released its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.17. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The firm had revenue of $501.30 million for the quarter, compared to the consensus estimate of $492.08 million. During the same quarter last year, the business posted $1.06 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, analysts expect that SPX Technologies, Inc. will post 5.54 earnings per share 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.