American International Group Inc. Trims Holdings in SPX Technologies, Inc. (NYSE:SPXC)

American International Group Inc. reduced its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,102 shares of the company’s stock after selling 202 shares during the quarter. American International Group Inc. owned 0.05% of SPX Technologies worth $2,435,000 as of its most recent SEC filing.

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

SPX Technologies Stock Performance

Shares of SPXC opened at $143.33 on Wednesday. SPX Technologies, Inc. has a 1 year low of $76.61 and a 1 year high of $146.50. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 69.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 1.12. The firm has a fifty day moving average of $134.40 and a 200-day moving average of $117.61.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer lifted their price objective on shares of SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. StockNews.com downgraded shares of 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, UBS Group lifted their price objective on shares of SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th.

SPX Technologies Profile

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.