Eagle Asset Management Inc. Cuts Position in SPX Technologies, Inc. (NYSE:SPXC)

Eagle Asset Management Inc. reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 22.0% in the 3rd quarter, according to the company in its most recent filing 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 0.31% of SPX Technologies worth $24,233,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 last quarter. Earnest Partners LLC raised its stake in SPX Technologies by 3.3% during the second quarter. Earnest Partners LLC now owns 1,066,426 shares of the company's stock worth $151,582,000 after buying an additional 33,675 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in SPX Technologies by 74.6% in the third quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company's stock valued at $100,023,000 after buying an additional 267,965 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in SPX Technologies by 29.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company's stock valued at $99,408,000 after buying an additional 142,544 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in SPX Technologies by 17.4% during the 2nd quarter. Principal Financial Group Inc. now owns 520,416 shares of the company's stock worth $73,972,000 after acquiring an additional 77,008 shares during the period. Institutional investors own 92.82% of the company's stock.

SPX Technologies Trading Up 2.0 %

NYSE SPXC traded up $3.46 during trading hours on Friday, hitting $176.01. 259,896 shares of the company's stock were exchanged, compared to its average volume of 252,720. SPX Technologies, Inc. has a 1-year low of $83.98 and a 1-year high of $176.35. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $161.84 and a 200 day simple moving average of $151.02. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 1.73 and a beta of 1.22.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. SPX Technologies's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

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.