Jane Street Group LLC Cuts Position in SPX Technologies, Inc. (NYSE:SPXC)

Jane Street Group LLC trimmed its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 16.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 41,531 shares of the company’s stock after selling 7,892 shares during the period. Jane Street Group LLC’s holdings in SPX Technologies were worth $6,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in shares of SPX Technologies by 1.0% during the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company’s stock worth $1,007,000 after purchasing an additional 68 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in SPX Technologies by 1.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company’s stock worth $632,000 after buying an additional 68 shares during the period. CIBC Asset Management Inc lifted its stake in SPX Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,383 shares of the company’s stock valued at $201,000 after buying an additional 73 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of SPX Technologies by 1.3% in the fourth quarter. Bank of Montreal Can now owns 6,316 shares of the company’s stock valued at $919,000 after acquiring an additional 78 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of SPX Technologies by 2.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company’s stock worth $493,000 after acquiring an additional 85 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Down 0.3 %

Shares of SPX Technologies stock opened at $148.85 on Friday. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83. The company’s 50-day simple moving average is $134.04 and its 200-day simple moving average is $147.11. 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 (NYSE:SPXC) last issued its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same period in the prior year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.75.

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.