Park Avenue Securities LLC Sells 323 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Park Avenue Securities LLC reduced its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,949 shares of the company’s stock after selling 323 shares during the quarter. Park Avenue Securities LLC’s holdings in SPX Technologies were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 acquiring an additional 173,021 shares in the last quarter. Earnest Partners LLC raised its position in shares of SPX Technologies by 3.3% in the second quarter. Earnest Partners LLC now owns 1,066,426 shares of the company’s stock valued at $151,582,000 after purchasing an additional 33,675 shares during the period. Principal Financial Group Inc. raised its position 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 period. Bank of New York Mellon Corp raised its position in shares of SPX Technologies by 2.3% in 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 during the period. Finally, Nordea Investment Management AB raised its position in shares of SPX Technologies by 160.6% in the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock valued at $47,069,000 after purchasing an additional 235,720 shares during the period. 92.82% of the stock is owned by institutional investors.

SPX Technologies Price Performance

NYSE:SPXC opened at $163.94 on Friday. SPX Technologies, Inc. has a 52 week low of $77.84 and a 52 week high of $166.92. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 79.97, a P/E/G ratio of 1.63 and a beta of 1.21. The firm’s 50-day simple moving average is $153.79 and its 200 day simple moving average is $141.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28.

SPX Technologies (NYSE:SPXC) last announced 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. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The firm had revenue of $501.30 million for the quarter, compared to the consensus estimate of $492.08 million. During the same period in the prior year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Oppenheimer lowered 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.