BlackRock Inc. Decreases Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

BlackRock Inc. lowered its stake in shares of SPX Technologies, Inc. (NYSE:SPXC – Get Rating) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,171,491 shares of the company’s stock after selling 32,630 shares during the period. BlackRock Inc. owned about 0.16% of SPX Technologies worth $396,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank increased its position in SPX Technologies by 0.7% during the third quarter. Amalgamated Bank now owns 20,553 shares of the company’s stock worth $1,135,000 after purchasing an additional 145 shares during the last quarter. New Century Advisors LLC increased its position in SPX Technologies by 62.7% during the third quarter. New Century Advisors LLC now owns 506 shares of the company’s stock worth $28,000 after purchasing an additional 195 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in SPX Technologies by 0.6% during the first quarter. Great West Life Assurance Co. Can now owns 39,156 shares of the company’s stock worth $1,982,000 after buying an additional 232 shares during the period. Synovus Financial Corp grew its stake in SPX Technologies by 2.0% during the second quarter. Synovus Financial Corp now owns 12,578 shares of the company’s stock worth $665,000 after buying an additional 250 shares during the period. Finally, Victory Capital Management Inc. grew its stake in SPX Technologies by 1.8% during the third quarter. Victory Capital Management Inc. now owns 15,332 shares of the company’s stock worth $847,000 after buying an additional 277 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

SPX Technologies Price Performance

Shares of SPXC stock opened at $69.67 on Friday. The firm has a fifty day simple moving average of $71.59 and a 200-day simple moving average of $65.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.43 and a current ratio of 2.16. SPX Technologies, Inc. has a twelve month low of $41.66 and a twelve month high of $78.30.

SPX Technologies (NYSE:SPXC – Get Rating) last announced its earnings results on Thursday, February 23rd. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.19. SPX Technologies had a net margin of 0.01% and a return on equity of 13.14%. The business had revenue of $429.30 million during the quarter, compared to the consensus estimate of $416.00 million. During the same period in the prior year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. Equities analysts expect that SPX Technologies, Inc. will post 3.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 27th. Oppenheimer upped their target price on shares of SPX Technologies from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, February 24th.

SPX Technologies Company Profile

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SPX Technologies, Inc is a supplier of engineered products and technologies in the HVAC and detection and measurement markets. The company was founded in 1912 and is headquartered in Charlotte, NC.