Schwerin Boyle Capital Management Inc. Sells 5,831 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Schwerin Boyle Capital Management Inc. lowered its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 2.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 231,959 shares of the company’s stock after selling 5,831 shares during the period. SPX Technologies comprises about 3.5% of Schwerin Boyle Capital Management Inc.’s portfolio, making the stock its 8th largest holding. Schwerin Boyle Capital Management Inc. owned 0.50% of SPX Technologies worth $32,971,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SPXC. Crewe Advisors LLC acquired a new stake in SPX Technologies during the second quarter valued at $28,000. Canada Pension Plan Investment Board acquired a new stake in shares of SPX Technologies during the 2nd quarter valued at about $28,000. UMB Bank n.a. increased its stake in shares of SPX Technologies by 965.0% in the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 193 shares in the last quarter. Hilltop National Bank purchased a new position in SPX Technologies during the second quarter worth approximately $39,000. Finally, YHB Investment Advisors Inc. purchased a new position in SPX Technologies during the first quarter worth approximately $51,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Insiders Place Their Bets

In other news, insider J Randall Data sold 39,412 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of the sale, the insider now owns 52,657 shares of the company’s stock, valued at $7,576,815.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.53% of the stock is currently owned by corporate insiders.

SPX Technologies Stock Down 0.3 %

SPXC opened at $162.57 on Friday. The company has a market cap of $7.53 billion, a PE ratio of 79.30, a price-to-earnings-growth ratio of 1.54 and a beta of 1.22. SPX Technologies, Inc. has a twelve month low of $77.84 and a twelve month high of $165.13. The company has a 50-day moving average price of $151.13 and a 200 day moving average price of $137.96. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40.

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

Analyst Upgrades and Downgrades

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

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.