Integrated Investment Consultants LLC Reduces Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Integrated Investment Consultants LLC cut its stake in SPX Technologies, Inc. (NYSE:SPXC) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,394 shares of the company’s stock after selling 145 shares during the period. Integrated Investment Consultants LLC’s holdings in SPX Technologies were worth $860,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of SPX Technologies by 3.5% in the 1st 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 purchased a new stake in SPX Technologies during the 1st quarter worth $349,000. UniSuper Management Pty Ltd purchased a new stake in SPX Technologies during the 1st quarter worth $1,013,000. Bessemer Group Inc. increased its stake in SPX Technologies by 22.8% during the 1st quarter. Bessemer Group Inc. now owns 4,492 shares of the company’s stock worth $553,000 after buying an additional 835 shares during the period. Finally, CreativeOne Wealth LLC purchased a new stake in SPX Technologies during the 1st quarter worth $949,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Stock Performance

SPX Technologies stock opened at $172.63 on Friday. The firm’s fifty day moving average price is $161.34 and its 200 day moving average price is $150.73. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 46.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. SPX Technologies, Inc. has a 12-month low of $83.98 and a 12-month high of $173.85. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

SPX Technologies (NYSE:SPXC) last released 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 company had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. On average, research analysts forecast that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

SPX Technologies 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.