SG Americas Securities LLC Trims Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

SG Americas Securities LLC trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 80.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,773 shares of the company's stock after selling 7,117 shares during the period. SG Americas Securities LLC's holdings in SPX Technologies were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in SPX Technologies by 3.5% during the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company's stock worth $637,067,000 after buying an additional 173,021 shares in the last quarter. Earnest Partners LLC grew its stake 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 in 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 valued at $73,972,000 after purchasing an additional 77,008 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of SPX Technologies by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company's stock valued at $56,516,000 after purchasing an additional 8,931 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in 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 purchasing an additional 235,720 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of SPX Technologies stock traded down $3.22 during trading hours on Monday, hitting $160.75. 331,657 shares of the company's stock traded hands, compared to its average volume of 220,776. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 72.41, a PEG ratio of 1.65 and a beta of 1.21. SPX Technologies, Inc. has a 12-month low of $77.90 and a 12-month high of $173.30. 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 company has a fifty day simple moving average of $157.37 and a 200-day simple moving average of $144.69.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.17. The business had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The firm's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 earnings per share. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer cut shares of SPX Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 18th.

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.