SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,441 shares of the company’s stock after selling 1,117 shares during the period. Granite Investment Partners LLC owned approximately 0.13% of SPX Technologies worth $8,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in SPX Technologies during the second quarter worth about $651,000. Seven Eight Capital LP purchased a new stake in shares of SPX Technologies during the 2nd quarter worth approximately $474,000. Hsbc Holdings PLC grew its holdings in shares of SPX Technologies by 3.4% in the 2nd quarter. Hsbc Holdings PLC now owns 6,886 shares of the company’s stock worth $989,000 after acquiring an additional 226 shares during the period. Blair William & Co. IL grew its holdings in shares of SPX Technologies by 35.3% in the 2nd quarter. Blair William & Co. IL now owns 18,822 shares of the company’s stock worth $2,675,000 after acquiring an additional 4,911 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in SPX Technologies by 31.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 117,856 shares of the company’s stock valued at $16,752,000 after purchasing an additional 28,433 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $143.89, for a total value of $5,670,992.68. Following the transaction, the insider now directly owns 52,657 shares in the company, valued at approximately $7,576,815.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.53% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer lowered SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

SPX Technologies Stock Up 5.5 %

Shares of NYSE SPXC opened at $163.37 on Friday. The firm’s 50-day moving average is $150.95 and its two-hundred day moving average is $137.46. The company has a market capitalization of $7.56 billion, a PE ratio of 79.69, a price-to-earnings-growth ratio of 1.54 and a beta of 1.22. SPX Technologies, Inc. has a 12-month low of $77.84 and a 12-month high of $164.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. The firm had revenue of $501.30 million for the quarter, compared to analyst estimates of $492.08 million. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. SPX Technologies’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 EPS. Equities analysts anticipate that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

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.