Swedbank AB Has $23.92 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

Swedbank AB lowered its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 25.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,000 shares of the company's stock after selling 50,000 shares during the quarter. Swedbank AB owned about 0.32% of SPX Technologies worth $23,919,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of SPX Technologies by 160.6% during the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company's stock worth $47,069,000 after buying an additional 235,720 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of SPX Technologies during the first quarter worth approximately $1,522,000. American Century Companies Inc. lifted its holdings in shares of SPX Technologies by 195.2% during the second quarter. American Century Companies Inc. now owns 14,492 shares of the company's stock worth $2,060,000 after buying an additional 9,582 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company's stock worth $10,485,000 after buying an additional 10,010 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of SPX Technologies by 31.7% during the first quarter. Capital World Investors now owns 379,569 shares of the company's stock worth $46,736,000 after buying an additional 91,266 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer lowered SPX Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 18th.

SPX Technologies Price Performance

Shares of SPXC stock traded down $0.01 during trading hours on Thursday, hitting $171.73. 157,577 shares of the company's stock were exchanged, compared to its average volume of 235,177. The stock's 50-day moving average is $156.34 and its 200-day moving average is $143.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 77.36, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. SPX Technologies, Inc. has a 52 week low of $77.84 and a 52 week high of $173.30.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.25 by $0.17. The company had revenue of $501.30 million for the quarter, compared to analysts' expectations of $492.08 million. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The business's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.06 earnings per share. As a group, research analysts forecast that SPX Technologies, Inc. will post 5.54 EPS for the current 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.