SPX Technologies, Inc. (NYSE:SPXC) Stock Position Lowered by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 27.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,995 shares of the company’s stock after selling 3,036 shares during the period. Wakefield Asset Management LLLP’s holdings in SPX Technologies were worth $1,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SPXC. Vanguard Group Inc. grew its position in SPX Technologies by 3.5% in the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company’s stock worth $637,067,000 after buying an additional 173,021 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of SPX Technologies by 15.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 809,824 shares of the company’s stock worth $81,800,000 after acquiring an additional 106,798 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of SPX Technologies by 17.4% during the second quarter. Principal Financial Group Inc. now owns 520,416 shares of the company’s stock worth $73,972,000 after purchasing an additional 77,008 shares during the period. Norges Bank purchased a new stake in shares of SPX Technologies during the fourth quarter valued at $48,528,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of SPX Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 456,819 shares of the company’s stock valued at $46,143,000 after purchasing an additional 11,882 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of the sale, the insider now directly owns 52,657 shares of the company’s stock, valued at approximately $7,576,815.73. The transaction 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 corporate insiders.

Analyst Upgrades and Downgrades

SPXC has been the subject of a number of analyst reports. StockNews.com lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Oppenheimer lowered shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th.

SPX Technologies Trading Down 3.4 %

NYSE:SPXC opened at $140.85 on Friday. The stock has a market cap of $6.51 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. SPX Technologies, Inc. has a fifty-two week low of $77.07 and a fifty-two week high of $164.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The stock’s 50-day moving average is $149.70 and its two-hundred day moving average is $135.06.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. The firm had revenue of $501.30 million for the quarter, compared to the consensus estimate of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 earnings per share. As a group, equities research analysts forecast that SPX Technologies, Inc. will post 5.54 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.