Macquarie Group Ltd. Lowers Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Macquarie Group Ltd. trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,811 shares of the company’s stock after selling 420 shares during the period. Macquarie Group Ltd. owned about 0.08% of SPX Technologies worth $2,457,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC purchased a new position in shares of SPX Technologies in the first quarter valued at about $615,000. Fairfield Bush & CO. purchased a new position in shares of SPX Technologies in the first quarter valued at about $35,000. Quadrant Capital Group LLC lifted its position in shares of SPX Technologies by 138.8% in the fourth quarter. Quadrant Capital Group LLC now owns 898 shares of the company’s stock valued at $59,000 after acquiring an additional 522 shares in the last quarter. Point72 Middle East FZE purchased a new stake in shares of SPX Technologies in the fourth quarter worth about $73,000. Finally, Tower Research Capital LLC TRC boosted its stake in SPX Technologies by 247.2% during the first quarter. Tower Research Capital LLC TRC now owns 1,222 shares of the company’s stock valued at $86,000 after buying an additional 870 shares during the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Trading Up 0.9 %

Shares of SPXC stock opened at $79.81 on Tuesday. SPX Technologies, Inc. has a 1 year low of $53.19 and a 1 year high of $91.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.51 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $80.48 and its two-hundred day simple moving average is $76.10. The company has a market cap of $3.64 billion, a PE ratio of 68.80, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.22. SPX Technologies had a return on equity of 16.52% and a net margin of 3.36%. The business had revenue of $423.30 million for the quarter, compared to the consensus estimate of $395.72 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. Research analysts predict that SPX Technologies, Inc. will post 4.26 earnings per share for the current year.

Insider Transactions at SPX Technologies

In other news, VP Natausha Heleena White sold 1,530 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $80.02, for a total value of $122,430.60. Following the sale, the vice president now directly owns 35,418 shares in the company, valued at $2,834,148.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders have sold 23,608 shares of company stock worth $1,869,185. 4.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SPXC has been the subject of a number of research reports. Oppenheimer increased their price target on SPX Technologies from $94.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. StockNews.com initiated coverage on SPX Technologies in a research note on Thursday, August 17th. They set a “hold” rating for the company. UBS Group lowered SPX Technologies from a “buy” rating to a “neutral” rating and increased their price target for the company from $80.00 to $90.00 in a research note on Wednesday, July 5th. Finally, TheStreet raised SPX Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, May 25th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, SPX Technologies currently has an average rating of “Moderate Buy” and an average target price of $93.50.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. 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 and comfort heating and ventilation products for the residential and commercial markets.