Moody National Bank Trust Division Sells 6,750 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Moody National Bank Trust Division cut its stake in SPX Technologies, Inc. (NYSE:SPXC) by 35.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,186 shares of the company’s stock after selling 6,750 shares during the quarter. Moody National Bank Trust Division’s holdings in SPX Technologies were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in shares of SPX Technologies by 4.2% in the third quarter. Janney Montgomery Scott LLC now owns 4,176 shares of the company’s stock worth $340,000 after buying an additional 170 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of SPX Technologies by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 444,937 shares of the company’s stock worth $36,218,000 after buying an additional 14,151 shares during the last quarter. Pathstone Family Office LLC purchased a new position in shares of SPX Technologies in the third quarter worth approximately $306,000. HighTower Advisors LLC boosted its holdings in shares of SPX Technologies by 27.4% in the third quarter. HighTower Advisors LLC now owns 4,286 shares of the company’s stock worth $346,000 after buying an additional 922 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of SPX Technologies by 10.0% in the third quarter. Deutsche Bank AG now owns 28,181 shares of the company’s stock worth $2,294,000 after buying an additional 2,563 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SPXC has been the topic of a number of research reports. UBS Group raised their price objective on shares of SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Oppenheimer lifted their price target on shares of SPX Technologies from $134.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Finally, StockNews.com downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th.

SPX Technologies Trading Up 1.1 %

SPX Technologies stock opened at $139.67 on Thursday. The stock has a market cap of $6.46 billion, a P/E ratio of 68.13, a PEG ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.70. SPX Technologies, Inc. has a 1 year low of $76.61 and a 1 year high of $145.65. The firm’s 50 day moving average price is $132.52 and its 200-day moving average price is $115.86.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.19. The firm had revenue of $465.20 million for the quarter, compared to analysts’ expectations of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. On average, equities analysts predict that SPX Technologies, Inc. will post 5.36 earnings per share for the current fiscal year.

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.