SPX Technologies, Inc. $SPXC Stock: Moody Aldrich Partners LLC Lowers Holdings

Moody Aldrich Partners LLC lessened its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 30.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,830 shares of the company’s stock after selling 7,727 shares during the quarter. Moody Aldrich Partners LLC’s holdings in SPX Technologies were worth $3,023,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its position in SPX Technologies by 13.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,332 shares of the company’s stock worth $1,243,000 after buying an additional 855 shares in the last quarter. Segment Wealth Management LLC grew its holdings in shares of SPX Technologies by 18.3% in the 3rd quarter. Segment Wealth Management LLC now owns 12,025 shares of the company’s stock valued at $2,039,000 after acquiring an additional 1,858 shares in the last quarter. Robeco Schweiz AG grew its holdings in shares of SPX Technologies by 17.4% in the 3rd quarter. Robeco Schweiz AG now owns 179,472 shares of the company’s stock valued at $30,431,000 after acquiring an additional 26,643 shares in the last quarter. Signaturefd LLC grew its holdings in shares of SPX Technologies by 57.7% in the 3rd quarter. Signaturefd LLC now owns 555 shares of the company’s stock valued at $94,000 after acquiring an additional 203 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of SPX Technologies in the third quarter valued at about $243,000. Institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPXC. Zacks Research lowered SPX Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. JPMorgan Chase & Co. decreased their price target on SPX Technologies from $282.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Truist Financial decreased their price target on SPX Technologies from $301.00 to $266.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Finally, Robert W. Baird initiated coverage on SPX Technologies in a research report on Monday, October 5th. They set an “outperform” rating and a $220.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.82.

SPX Technologies Stock Performance

NYSE SPXC opened at $165.22 on Thursday. The firm has a market capitalization of $8.28 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.03 and a beta of 1.24. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $180.32 and its two-hundred day moving average price is $207.95. SPX Technologies, Inc. has a 1 year low of $155.86 and a 1 year high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. During the same quarter last year, the firm posted $1.65 EPS. The company’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, research analysts anticipate that SPX Technologies, Inc. will post 8.48 EPS for the current year.

SPX Technologies 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.