Pitcairn Co. Decreases Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Pitcairn Co. lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 20.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,703 shares of the company’s stock after selling 924 shares during the period. Pitcairn Co.’s holdings in SPX Technologies were worth $590,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of SPX Technologies during the 2nd quarter worth approximately $28,000. Canada Pension Plan Investment Board purchased a new stake in SPX Technologies in the second quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in shares of SPX Technologies in the third quarter valued at $28,000. UMB Bank n.a. grew its stake in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 193 shares during the period. Finally, Hilltop National Bank purchased a new stake in SPX Technologies in the 2nd quarter worth about $39,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $181.56 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a fifty-two week low of $83.98 and a fifty-two week high of $183.83. The stock has a market cap of $8.42 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22. The stock has a fifty day moving average of $162.39 and a 200-day moving average of $151.55.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. During the same quarter in the previous year, the firm earned $1.06 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research started coverage on shares of SPX Technologies in a report on Monday. They set an “outperform” rating and a $199.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, SPX Technologies presently has a consensus rating of “Hold” and a consensus price target of $160.33.

SPX Technologies Company 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.