MML Investors Services LLC Has $487,000 Position in SPX Technologies, Inc. (NYSE:SPXC)

MML Investors Services LLC decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,054 shares of the company’s stock after selling 100 shares during the period. MML Investors Services LLC’s holdings in SPX Technologies were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPXC. American Century Companies Inc. raised its holdings in shares of SPX Technologies by 195.2% in the 2nd quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock worth $2,060,000 after buying an additional 9,582 shares in the last quarter. Victory Capital Management Inc. raised its stake in SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock worth $10,485,000 after acquiring an additional 10,010 shares in the last quarter. Dana Investment Advisors Inc. bought a new position in shares of SPX Technologies during the second quarter valued at $855,000. Mutual of America Capital Management LLC boosted its stake in shares of SPX Technologies by 212.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock valued at $3,786,000 after purchasing an additional 16,145 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of SPX Technologies by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company’s stock worth $56,516,000 after purchasing an additional 8,931 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several analyst reports. Wolfe Research assumed coverage on shares of SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $187.00 to $175.00 in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $164.00.

SPX Technologies Trading Up 0.2 %

SPXC opened at $143.55 on Monday. SPX Technologies, Inc. has a 1-year low of $95.00 and a 1-year high of $183.83. The stock has a market capitalization of $6.65 billion, a PE ratio of 38.59, a PEG ratio of 1.55 and a beta of 1.26. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $163.21 and a two-hundred day moving average price of $154.56.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. SPX Technologies’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. As a group, equities analysts anticipate that SPX Technologies, Inc. will post 5.56 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.