Eagle Asset Management Inc. Reduces Stake in SPX Technologies, Inc. (NYSE:SPXC)

Eagle Asset Management Inc. lowered its position in SPX Technologies, Inc. (NYSE:SPXC) by 22.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,314 shares of the company’s stock after selling 40,319 shares during the period. Eagle Asset Management Inc. owned approximately 0.31% of SPX Technologies worth $24,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in SPX Technologies by 3.5% in the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company’s stock valued at $637,067,000 after acquiring an additional 173,021 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in SPX Technologies in the first quarter valued at approximately $349,000. Bessemer Group Inc. lifted its holdings in SPX Technologies by 22.8% in the first quarter. Bessemer Group Inc. now owns 4,492 shares of the company’s stock valued at $553,000 after acquiring an additional 835 shares during the period. Capital International Investors acquired a new position in SPX Technologies in the first quarter valued at approximately $21,819,000. Finally, Capital World Investors lifted its holdings in SPX Technologies by 31.7% in the first quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after acquiring an additional 91,266 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Up 2.0 %

Shares of NYSE:SPXC opened at $176.01 on Friday. SPX Technologies, Inc. has a 12-month low of $83.98 and a 12-month high of $176.35. The company has a market capitalization of $8.16 billion, a PE ratio of 47.31, a PEG ratio of 1.73 and a beta of 1.22. The business has a 50 day moving average of $161.84 and a two-hundred day moving average of $151.02. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 EPS. As a group, analysts forecast that SPX Technologies, Inc. will post 5.56 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.