Putnam Investments LLC Trims Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Putnam Investments LLC trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC – Get Rating) by 12.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,570 shares of the company’s stock after selling 2,386 shares during the quarter. Putnam Investments LLC’s holdings in SPX Technologies were worth $915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank grew its stake in SPX Technologies by 0.7% in 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 in the last quarter. New Century Advisors LLC grew its stake in SPX Technologies by 62.7% in 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 in the last quarter. Great West Life Assurance Co. Can grew its stake in SPX Technologies by 0.6% in the first quarter. Great West Life Assurance Co. Can now owns 39,156 shares of the company’s stock worth $1,982,000 after purchasing an additional 232 shares in the last quarter. Synovus Financial Corp grew its stake in SPX Technologies by 2.0% in the second quarter. Synovus Financial Corp now owns 12,578 shares of the company’s stock worth $665,000 after purchasing an additional 250 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in SPX Technologies by 1.8% in the third quarter. Victory Capital Management Inc. now owns 15,332 shares of the company’s stock worth $847,000 after purchasing an additional 277 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Down 2.7 %

Shares of NYSE SPXC opened at $66.06 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 1.43 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.00 billion, a PE ratio of -6,606,000.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23. The stock’s fifty day simple moving average is $71.64 and its two-hundred day simple moving average is $66.07. SPX Technologies, Inc. has a 12-month low of $41.66 and a 12-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 (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.19. The business had revenue of $429.30 million for the quarter, compared to analysts’ expectations of $416.00 million. SPX Technologies had a return on equity of 13.14% and a net margin of 0.01%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, analysts expect that SPX Technologies, Inc. will post 3.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SPXC shares. StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 27th. Oppenheimer increased their target price on SPX Technologies from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, February 24th.

About SPX Technologies

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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.