SG Americas Securities LLC Decreases Stake in SPX Technologies, Inc. (NYSE:SPXC)

SG Americas Securities LLC lowered its position in SPX Technologies, Inc. (NYSE:SPXCGet Rating) by 50.2% in the third quarter, Holdings Channel reports. The fund owned 9,781 shares of the company’s stock after selling 9,857 shares during the period. SG Americas Securities LLC’s holdings in SPX Technologies were worth $540,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SPXC. Price T Rowe Associates Inc. MD lifted its stake in SPX Technologies by 2.3% in the second 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 during the last quarter. BlackRock Inc. lifted its stake in SPX Technologies by 1.5% in the first quarter. BlackRock Inc. now owns 6,946,104 shares of the company’s stock worth $343,207,000 after acquiring an additional 104,221 shares during the last quarter. State Street Corp lifted its stake in SPX Technologies by 4.2% in the first quarter. State Street Corp now owns 1,612,018 shares of the company’s stock worth $79,650,000 after acquiring an additional 64,267 shares during the last quarter. Credit Suisse AG raised its holdings in 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 purchasing an additional 62,897 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in 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 purchasing an additional 47,309 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity

In other news, VP Natausha Heleena White sold 10,190 shares of SPX Technologies stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $69.83, for a total value of $711,567.70. Following the transaction, the vice president now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $71.39 on Tuesday. The firm’s fifty day simple moving average is $68.05 and its 200-day simple moving average is $62.50. The stock has a market capitalization 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 12 month low of $41.66 and a 12 month high of $75.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.24 and a quick ratio of 1.53.

SPX Technologies (NYSE:SPXCGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. The business 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 forecast that SPX Technologies, Inc. will post 2.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of research analyst reports. StockNews.com raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, November 30th. Oppenheimer reissued a “buy” rating and set a $72.00 price objective on shares of SPX Technologies in a report on Thursday, September 29th.

SPX Technologies Company 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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