SPX Technologies, Inc. $SPXC Stock Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC cut its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 30.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,830 shares of the company’s stock after selling 7,727 shares during the period. Moody Aldrich Partners LLC’s holdings in SPX Technologies were worth $3,023,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SPXC. Hsbc Holdings PLC grew its position in shares of SPX Technologies by 181.2% during the 2nd quarter. Hsbc Holdings PLC now owns 9,106 shares of the company’s stock worth $2,222,000 after purchasing an additional 5,868 shares in the last quarter. Amundi increased its holdings in shares of SPX Technologies by 31.2% during the second quarter. Amundi now owns 324,732 shares of the company’s stock worth $79,645,000 after purchasing an additional 77,148 shares during the period. Renaissance Technologies LLC bought a new position in shares of SPX Technologies during the first quarter worth approximately $1,000,000. Squarepoint Ops LLC bought a new position in shares of SPX Technologies during the second quarter worth approximately $14,194,000. Finally, Bank of America Corp DE acquired a new stake in shares of SPX Technologies in the second quarter valued at approximately $86,545,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Trading Up 0.1%

Shares of SPX Technologies stock opened at $165.22 on Thursday. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 1.03 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 12-month low of $155.86 and a 12-month high of $251.08. The firm’s 50-day moving average price is $180.32 and its two-hundred day moving average price is $207.95.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.85 by $0.17. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. On average, analysts forecast that SPX Technologies, Inc. will post 8.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPXC has been the subject of several recent research reports. Weiss Ratings cut SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. Oppenheimer lowered their price objective on SPX Technologies from $270.00 to $265.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Robert W. Baird initiated coverage on SPX Technologies in a report on Monday, October 5th. They issued an “outperform” rating and a $220.00 price objective for the company. Truist Financial dropped their price objective on SPX Technologies from $301.00 to $266.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, JPMorgan Chase & Co. cut their target price on SPX Technologies from $282.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.82.

SPX Technologies Company Profile

SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.

SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.