First Horizon Advisors Inc. Sells 68 Shares of SPX Technologies, Inc. (NYSE:SPXC)

First Horizon Advisors Inc. trimmed its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 20.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 259 shares of the company’s stock after selling 68 shares during the quarter. First Horizon Advisors Inc.’s holdings in SPX Technologies were worth $41,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SPXC. V Square Quantitative Management LLC bought a new position in SPX Technologies in the third quarter valued at approximately $28,000. Crewe Advisors LLC bought a new position in shares of SPX Technologies in the 2nd quarter valued at $28,000. Canada Pension Plan Investment Board bought a new position in shares of SPX Technologies in the 2nd quarter valued at $28,000. UMB Bank n.a. lifted its position in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 193 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in SPX Technologies in the third quarter valued at about $44,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

NYSE SPXC opened at $181.56 on Tuesday. SPX Technologies, Inc. has a fifty-two week low of $83.98 and a fifty-two week high of $183.83. The stock has a market cap of $8.42 billion, a PE ratio of 48.81, a PEG ratio of 1.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm’s fifty day moving average price is $162.39 and its two-hundred day moving average price is $151.55.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $501.02 million. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts expect that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wolfe Research began coverage on SPX Technologies in a research note on Monday. They set an “outperform” rating and a $199.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SPX Technologies has a consensus rating of “Hold” and an average target price of $160.33.

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.