SG Americas Securities LLC Lowers Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

SG Americas Securities LLC decreased its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 80.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,773 shares of the company’s stock after selling 7,117 shares during the period. SG Americas Securities LLC’s holdings in SPX Technologies were worth $283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of SPX Technologies by 160.6% during the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock valued at $47,069,000 after buying an additional 235,720 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of SPX Technologies during the first quarter valued at about $1,522,000. American Century Companies Inc. grew its stake in shares of SPX Technologies by 195.2% during the second quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock valued at $2,060,000 after buying an additional 9,582 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock valued at $10,485,000 after buying an additional 10,010 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of SPX Technologies by 31.7% during the first quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after buying an additional 91,266 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Down 4.5 %

NYSE SPXC opened at $163.97 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The stock has a market capitalization of $7.59 billion, a PE ratio of 73.86, a PEG ratio of 1.70 and a beta of 1.21. SPX Technologies, Inc. has a 1 year low of $77.84 and a 1 year high of $173.30. The business’s 50-day moving average is $157.11 and its 200 day moving average is $144.41.

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, topping the consensus estimate of $1.25 by $0.17. The company had revenue of $501.30 million for 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%. SPX Technologies’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the firm earned $1.06 earnings per share. Sell-side analysts forecast that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analyst Ratings Changes

Separately, Oppenheimer cut 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.