Navellier & Associates Inc. Sells 1,275 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Navellier & Associates Inc. trimmed its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,893 shares of the company’s stock after selling 1,275 shares during the period. Navellier & Associates Inc.’s holdings in SPX Technologies were worth $1,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Assetmark Inc. lifted its position in SPX Technologies by 4.7% during the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after acquiring an additional 78 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of SPX Technologies by 4.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock valued at $503,000 after buying an additional 146 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of SPX Technologies by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock worth $1,632,000 after purchasing an additional 158 shares during the period. KBC Group NV raised its position in shares of SPX Technologies by 14.3% in the third quarter. KBC Group NV now owns 1,295 shares of the company’s stock worth $207,000 after acquiring an additional 162 shares during the period. Finally, Fifth Third Bancorp grew its holdings in SPX Technologies by 3.8% in the second quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock valued at $668,000 after purchasing an additional 174 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Up 0.5 %

SPXC opened at $167.41 on Thursday. 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 $173.30. The company has a market cap of $7.76 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. The company has a 50-day moving average price of $160.86 and a 200 day moving average price of $150.58.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. Sell-side analysts expect that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

SPX Technologies Company 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.