Wealth Enhancement Advisory Services LLC Sells 654 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Wealth Enhancement Advisory Services LLC trimmed its stake in SPX Technologies, Inc. (NYSE:SPXC) by 18.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,846 shares of the company’s stock after selling 654 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SPX Technologies were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Crewe Advisors LLC bought a new position in SPX Technologies in the second quarter worth about $28,000. Canada Pension Plan Investment Board bought a new position in shares of SPX Technologies during the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of SPX Technologies during the 3rd quarter worth approximately $28,000. UMB Bank n.a. lifted its position in SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 193 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in SPX Technologies in the second quarter valued at approximately $39,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Trading Up 1.7 %

Shares of SPX Technologies stock opened at $169.09 on Friday. The firm’s 50 day simple moving average is $157.87 and its two-hundred day simple moving average is $147.97. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 45.45, a PEG ratio of 1.64 and a beta of 1.22. SPX Technologies, Inc. has a 12-month low of $82.93 and a 12-month high of $173.30.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. SPX Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that SPX Technologies, Inc. will post 5.56 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a report 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.