SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in SPX Technologies, Inc. (NYSE:SPXC) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,757 shares of the company’s stock after selling 392 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SPX Technologies were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. TFO Wealth Partners LLC grew its stake in SPX Technologies by 58,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after purchasing an additional 1,168 shares in the last quarter. Quadrant Capital Group LLC grew its stake in SPX Technologies by 54.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock worth $135,000 after purchasing an additional 475 shares in the last quarter. MCF Advisors LLC acquired a new position in SPX Technologies during the 4th quarter worth $173,000. Segment Wealth Management LLC acquired a new position in SPX Technologies during the 4th quarter worth $202,000. Finally, Cerity Partners LLC acquired a new position in SPX Technologies during the 4th quarter worth $204,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Up 0.5 %

Shares of NYSE SPXC opened at $144.31 on Monday. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 70.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.70. The business has a 50-day moving average of $133.38 and a two-hundred day moving average of $116.82. SPX Technologies, Inc. has a 1 year low of $76.61 and a 1 year high of $145.65.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.19. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The business had revenue of $465.20 million during the quarter, compared to the consensus estimate of $454.05 million. During the same period in the previous year, the business earned $0.93 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts forecast that SPX Technologies, Inc. will post 5.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SPXC. UBS Group boosted their target price on SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. StockNews.com downgraded SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Finally, Oppenheimer lifted their price target on SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd.

About SPX Technologies

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.