Greenwood Capital Associates LLC Cuts Stake in SPX Technologies, Inc. (NYSE:SPXC)

Greenwood Capital Associates LLC lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,297 shares of the company’s stock after selling 253 shares during the period. Greenwood Capital Associates LLC’s holdings in SPX Technologies were worth $737,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TFO Wealth Partners LLC grew its stake in SPX Technologies by 58,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock valued at $118,000 after purchasing an additional 1,168 shares during the last quarter. Quadrant Capital Group LLC grew its stake in SPX Technologies by 54.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after purchasing an additional 475 shares during the last quarter. MCF Advisors LLC purchased a new position in SPX Technologies in the fourth quarter valued at about $173,000. Segment Wealth Management LLC purchased a new position in SPX Technologies in the fourth quarter valued at about $202,000. Finally, Cerity Partners LLC purchased a new position in SPX Technologies in the fourth quarter valued at about $204,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. William Blair reissued an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. UBS Group raised their price target on SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. StockNews.com downgraded SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Finally, Oppenheimer raised their price target on SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd.

SPX Technologies Stock Performance

SPXC stock traded down $2.68 during trading on Friday, hitting $135.07. 162,850 shares of the company traded hands, compared to its average volume of 176,967. The stock’s 50-day simple moving average is $131.49 and its 200 day simple moving average is $114.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.70. The company has a market cap of $6.24 billion, a PE ratio of 65.89, a P/E/G ratio of 1.40 and a beta of 1.21. SPX Technologies, Inc. has a 1 year low of $76.61 and a 1 year high of $145.65.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.19. The business had revenue of $465.20 million during the quarter, compared to analysts’ expectations of $454.05 million. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. On average, equities analysts expect that SPX Technologies, Inc. will post 5.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John William Swann III sold 32,325 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the sale, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.53% of the stock is owned by company insiders.

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.