SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 38.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,732 shares of the company’s stock after selling 46,172 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of SPX Technologies worth $10,875,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Assetmark Inc. grew its position in SPX Technologies by 4.7% in the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after buying an additional 78 shares in the last quarter. Hilltop National Bank lifted its stake in shares of SPX Technologies by 19.9% in the 4th quarter. Hilltop National Bank now owns 536 shares of the company’s stock worth $78,000 after acquiring an additional 89 shares during the period. Evergreen Capital Management LLC boosted its holdings in shares of SPX Technologies by 4.3% in the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock valued at $503,000 after acquiring an additional 146 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of SPX Technologies by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock valued at $1,632,000 after acquiring an additional 158 shares during the period. Finally, M&T Bank Corp raised its holdings in SPX Technologies by 0.4% during the third quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock worth $5,986,000 after purchasing an additional 160 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SPXC. Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $187.00 to $175.00 in a research note on Friday, December 6th. Wolfe Research started coverage on SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 target price for the company. Finally, UBS Group dropped their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $168.50.

SPX Technologies Trading Down 0.2 %

NYSE SPXC opened at $148.41 on Friday. The firm’s 50 day moving average price is $157.25 and its two-hundred day moving average price is $155.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a twelve month low of $98.16 and a twelve month high of $183.83. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 39.89, a PEG ratio of 1.25 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $501.02 million. During the same period in the prior year, the business earned $1.06 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

SPX Technologies Company 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.