SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP trimmed its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 27.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,995 shares of the company’s stock after selling 3,036 shares during the period. Wakefield Asset Management LLLP’s holdings in SPX Technologies were worth $1,136,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Truist Financial Corp acquired a new position in shares of SPX Technologies during the fourth quarter worth about $631,000. Victory Capital Management Inc. boosted its holdings in SPX Technologies by 413.0% in the 4th quarter. Victory Capital Management Inc. now owns 68,132 shares of the company’s stock worth $6,882,000 after acquiring an additional 54,850 shares during the period. Natixis Advisors L.P. grew its position in SPX Technologies by 6.6% in the fourth quarter. Natixis Advisors L.P. now owns 16,514 shares of the company’s stock valued at $1,668,000 after acquiring an additional 1,021 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in SPX Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 456,819 shares of the company’s stock valued at $46,143,000 after acquiring an additional 11,882 shares in the last quarter. Finally, AGF Management Ltd. purchased a new stake in shares of SPX Technologies during the fourth quarter valued at approximately $7,408,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Trading Down 3.4 %

NYSE SPXC opened at $140.85 on Friday. The firm has a market capitalization of $6.51 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. SPX Technologies, Inc. has a one year low of $77.07 and a one year high of $164.91. The company has a 50-day simple moving average of $149.70 and a 200-day simple moving average of $135.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28.

SPX Technologies (NYSE:SPXC) last posted its 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. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The company had revenue of $501.30 million during the quarter, compared to analyst estimates of $492.08 million. During the same period in the prior year, the company earned $1.06 earnings per share. The business’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPXC. StockNews.com lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $143.89, for a total value of $5,670,992.68. Following the sale, the insider now owns 52,657 shares in the company, valued at $7,576,815.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.53% of the stock is currently owned by company insiders.

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.