Swedbank AB Sells 50,000 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Swedbank AB lowered its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 25.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,000 shares of the company’s stock after selling 50,000 shares during the period. Swedbank AB owned 0.32% of SPX Technologies worth $23,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB grew its stake 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 worth $47,069,000 after purchasing an additional 235,720 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of SPX Technologies during the first quarter valued at approximately $1,522,000. American Century Companies Inc. lifted its holdings 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 during the last quarter. Victory Capital Management Inc. increased its position in shares of SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock valued at $10,485,000 after acquiring an additional 10,010 shares in the last quarter. Finally, Capital World Investors increased its position in shares of SPX Technologies by 31.7% during the first quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after acquiring an additional 91,266 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Up 1.5 %

Shares of SPXC stock opened at $171.77 on Thursday. SPX Technologies, Inc. has a 1 year low of $77.84 and a 1 year high of $173.30. The firm has a fifty day moving average price of $156.34 and a 200-day moving average price of $143.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 77.37, a PEG ratio of 1.65 and a beta of 1.21.

SPX Technologies (NYSE:SPXC) last issued 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 firm had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. During the same quarter in the previous year, the firm posted $1.06 EPS. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, equities analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share for the current year.

Analyst Ratings Changes

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

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.