Truist Financial Corp Has $902,000 Position in SPX Technologies, Inc. (NYSE:SPXC)

Truist Financial Corp lifted its position in SPX Technologies, Inc. (NYSE:SPXC) by 26.6% during the second quarter, HoldingsChannel.com reports. The fund owned 6,349 shares of the company’s stock after purchasing an additional 1,334 shares during the period. Truist Financial Corp’s holdings in SPX Technologies were worth $902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. First Bank & Trust bought a new position in SPX Technologies during the first quarter worth about $256,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in SPX Technologies during the 1st quarter worth approximately $214,000. First Trust Direct Indexing L.P. acquired a new stake in SPX Technologies during the 1st quarter worth approximately $203,000. Principal Financial Group Inc. lifted its stake in SPX Technologies by 86.8% in the first quarter. Principal Financial Group Inc. now owns 443,408 shares of the company’s stock valued at $54,597,000 after buying an additional 206,054 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of SPX Technologies in the first quarter valued at approximately $280,000. Institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Oppenheimer lowered shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

SPX Technologies Stock Up 0.6 %

Shares of SPX Technologies stock opened at $169.82 on Tuesday. The firm has a market cap of $7.86 billion, a PE ratio of 76.50, a P/E/G ratio of 1.65 and a beta of 1.21. The business’s 50 day simple moving average is $155.26 and its 200 day simple moving average is $143.06. 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, Inc. has a 52-week low of $77.84 and a 52-week high of $171.60.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $501.30 million for the quarter, compared to the consensus estimate of $492.08 million. During the same period last year, the company earned $1.06 earnings per share. The firm’s revenue was up 18.4% compared to the same quarter last year. On average, analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share for the current fiscal year.

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.