Assenagon Asset Management S.A. Cuts Stake in SPX Technologies, Inc. (NYSE:SPXC)

Assenagon Asset Management S.A. cut its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 38.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,732 shares of the company's stock after selling 46,172 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.16% of SPX Technologies worth $10,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. boosted its stake 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 valued at $2,060,000 after purchasing an additional 9,582 shares in the last quarter. Dana Investment Advisors Inc. acquired a new stake in SPX Technologies during the 2nd quarter worth approximately $855,000. Mutual of America Capital Management LLC grew its holdings in SPX Technologies by 212.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company's stock worth $3,786,000 after acquiring an additional 16,145 shares during the last quarter. Barclays PLC lifted its holdings in shares of SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company's stock worth $13,485,000 after purchasing an additional 63,373 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company's stock valued at $164,888,000 after buying an additional 8,916 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Down 0.2 %

Shares of SPX Technologies stock traded down $0.26 during trading on Friday, reaching $148.41. 453,591 shares of the company traded hands, compared to its average volume of 231,243. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The firm has a market capitalization of $6.88 billion, a PE ratio of 39.89, a P/E/G ratio of 1.25 and a beta of 1.30. The company has a 50 day moving average price of $157.25 and a 200-day moving average price of $155.34. SPX Technologies, Inc. has a 1-year low of $98.16 and a 1-year high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The company had revenue of $483.70 million for the quarter, compared to analysts' expectations of $501.02 million. During the same quarter in the prior year, the firm earned $1.06 EPS. The business's revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group decreased their target price on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Wolfe Research assumed coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an "outperform" rating and a $199.00 target price for the company. Finally, Sidoti downgraded SPX Technologies from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $187.00 to $175.00 in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $168.50.

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.