Allspring Global Investments Holdings LLC Has $9.26 Million Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Allspring Global Investments Holdings LLC trimmed its stake in SPX Technologies, Inc. (NYSE:SPXC) by 62.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,073 shares of the company’s stock after selling 95,712 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of SPX Technologies worth $9,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of SPX Technologies in the third quarter valued at about $28,000. Crewe Advisors LLC bought a new stake in shares of SPX Technologies in the 2nd quarter worth approximately $28,000. Canada Pension Plan Investment Board bought a new stake in shares of SPX Technologies in the 2nd quarter worth approximately $28,000. UMB Bank n.a. grew its holdings in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after purchasing an additional 193 shares in the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in shares of SPX Technologies during the third quarter valued at approximately $44,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Down 0.2 %

Shares of SPXC opened at $157.23 on Friday. SPX Technologies, Inc. has a 12 month low of $77.90 and a 12 month high of $173.30. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 76.70, a P/E/G ratio of 1.59 and a beta of 1.21. The company has a 50-day moving average price of $157.89 and a two-hundred day moving average price of $145.38. 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 quarterly earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.25 by $0.17. The business 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 quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. Equities analysts predict that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.