SG Americas Securities LLC Cuts Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

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SG Americas Securities LLC Cuts Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

SPX Technologies logoSG Americas Securities LLC lessened its stake in SPX Technologies, Inc. (NYSE:SPXCGet Rating) by 50.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,781 shares of the company’s stock after selling 9,857 shares during the quarter. SG Americas Securities LLC’s holdings in SPX Technologies were worth $540,000 at the end of the most recent reporting period.

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Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPXC. Price T Rowe Associates Inc. MD increased its holdings in SPX Technologies by 2.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,714,463 shares of the company’s stock worth $249,112,000 after acquiring an additional 105,851 shares in the last quarter. BlackRock Inc. grew its holdings in shares of SPX Technologies by 1.5% during the first quarter. BlackRock Inc. now owns 6,946,104 shares of the company’s stock worth $343,207,000 after buying an additional 104,221 shares in the last quarter. State Street Corp grew its holdings in shares of SPX Technologies by 4.2% during the first quarter. State Street Corp now owns 1,612,018 shares of the company’s stock worth $79,650,000 after buying an additional 64,267 shares in the last quarter. Credit Suisse AG grew its holdings in shares of SPX Technologies by 98.1% during the second quarter. Credit Suisse AG now owns 127,039 shares of the company’s stock worth $6,712,000 after buying an additional 62,897 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of SPX Technologies by 76.4% during the first quarter. Renaissance Technologies LLC now owns 109,200 shares of the company’s stock worth $5,396,000 after buying an additional 47,309 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

SPX Technologies Trading Up 0.9 %

Shares of SPXC stock opened at $71.39 on Tuesday. The company’s 50-day moving average price is $68.05 and its 200-day moving average price is $62.50. The company has a current ratio of 2.24, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 96.47, a PEG ratio of 1.15 and a beta of 1.18. SPX Technologies, Inc. has a twelve month low of $41.66 and a twelve month high of $75.25.

SPX Technologies (NYSE:SPXCGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.15. The firm had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $352.00 million. SPX Technologies had a net margin of 2.45% and a return on equity of 11.87%. As a group, equities analysts predict that SPX Technologies, Inc. will post 2.91 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SPXC shares. StockNews.com raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, November 30th. Oppenheimer reaffirmed a “buy” rating and set a $72.00 target price on shares of SPX Technologies in a report on Thursday, September 29th.

Insider Activity

In other news, VP Natausha Heleena White sold 10,190 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $69.83, for a total transaction of $711,567.70. Following the transaction, the vice president now owns 33,518 shares of the company’s stock, valued at approximately $2,340,561.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.

SPX Technologies Profile

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SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. 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 and comfort heating and ventilation products for the residential and commercial markets.

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Institutional Ownership by Quarter for SPX Technologies (NYSE:SPXC)

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