SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Fmr LLC

FMR LLC lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 14.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 662,123 shares of the company's stock after selling 107,645 shares during the period. FMR LLC owned 1.43% of SPX Technologies worth $105,582,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SPXC. Earnest Partners LLC lifted its holdings in shares of SPX Technologies by 3.3% in the 2nd quarter. Earnest Partners LLC now owns 1,066,426 shares of the company's stock worth $151,582,000 after acquiring an additional 33,675 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in SPX Technologies by 74.6% in the third quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company's stock worth $100,023,000 after purchasing an additional 267,965 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of SPX Technologies by 29.6% during 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 last quarter. Principal Financial Group Inc. raised its holdings in shares of SPX Technologies by 17.4% in the second quarter. Principal Financial Group Inc. now owns 520,416 shares of the company's stock worth $73,972,000 after buying an additional 77,008 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of SPX Technologies by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company's stock worth $56,516,000 after acquiring an additional 8,931 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Performance

Shares of SPX Technologies stock traded down $6.22 during midday trading on Thursday, hitting $169.98. The company had a trading volume of 240,531 shares, compared to its average volume of 249,133. SPX Technologies, Inc. has a 12-month low of $87.08 and a 12-month high of $183.83. The company has a fifty day simple moving average of $164.93 and a 200 day simple moving average of $153.36. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 45.69, a PEG ratio of 1.77 and a beta of 1.26.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 19.70% and a net margin of 9.11%. SPX Technologies's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. As a group, analysts predict that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wolfe Research started coverage on SPX Technologies in a research note on Monday, November 25th. They issued an "outperform" rating and a $199.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, SPX Technologies currently has an average rating of "Hold" and an average target price of $160.33.

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.