PNC Financial Services Group Inc. Has $1.63 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

PNC Financial Services Group Inc. boosted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,233 shares of the company’s stock after purchasing an additional 158 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SPX Technologies were worth $1,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pathstone Holdings LLC increased its position in SPX Technologies by 23.0% in the 3rd quarter. Pathstone Holdings LLC now owns 9,955 shares of the company’s stock valued at $1,587,000 after buying an additional 1,861 shares in the last quarter. Swiss National Bank increased its holdings in shares of SPX Technologies by 0.6% during the third quarter. Swiss National Bank now owns 90,318 shares of the company’s stock valued at $14,402,000 after acquiring an additional 500 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of SPX Technologies by 212.5% during the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock worth $3,786,000 after purchasing an additional 16,145 shares during the period. Natixis Advisors LLC lifted its holdings in shares of SPX Technologies by 9.6% in the 3rd quarter. Natixis Advisors LLC now owns 22,192 shares of the company’s stock worth $3,539,000 after purchasing an additional 1,948 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in SPX Technologies in the 3rd quarter valued at $209,000. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Down 1.4 %

SPXC stock opened at $178.98 on Wednesday. The firm has a market capitalization of $8.30 billion, a PE ratio of 48.11, a P/E/G ratio of 1.76 and a beta of 1.22. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a twelve month low of $83.98 and a twelve month high of $183.83. The stock’s 50 day moving average is $162.86 and its 200-day moving average is $151.82.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $501.02 million. During the same period last year, the business earned $1.06 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $160.33.

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.