SG Americas Securities LLC Trims Stake in SPX Technologies, Inc. (NYSE:SPXC)

SG Americas Securities LLC lowered its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 75.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,167 shares of the company's stock after selling 12,739 shares during the period. SG Americas Securities LLC's holdings in SPX Technologies were worth $421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SPXC. Point72 Asset Management L.P. purchased a new stake in shares of SPX Technologies in the second quarter worth approximately $34,000. Quarry LP purchased a new stake in shares of SPX Technologies in the second quarter worth approximately $44,000. Lazard Asset Management LLC purchased a new stake in shares of SPX Technologies in the second quarter worth approximately $59,000. Fairfield Bush & CO. purchased a new stake in shares of SPX Technologies in the first quarter worth approximately $35,000. Finally, Point72 Middle East FZE purchased a new stake in shares of SPX Technologies in the fourth quarter worth approximately $73,000. Institutional investors own 92.82% of the company's stock.

Insider Buying and Selling at SPX Technologies

In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the transaction, the chief executive officer now directly owns 667,045 shares of the company's stock, valued at $76,936,970.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the transaction, the chief executive officer now directly owns 667,045 shares of the company's stock, valued at $76,936,970.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the firm's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the transaction, the insider now directly owns 82,884 shares of the company's stock, valued at $9,747,987.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,373 shares of company stock valued at $10,962,146. Company insiders own 4.02% of the company's stock.

SPX Technologies Stock Performance

NYSE SPXC traded up $0.48 on Friday, hitting $121.07. 293,943 shares of the stock traded hands, compared to its average volume of 230,704. The business's fifty day moving average is $113.37 and its two-hundred day moving average is $97.52. SPX Technologies, Inc. has a 12 month low of $61.09 and a 12 month high of $124.81. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 63.06, a PEG ratio of 1.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.77.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, meeting the consensus estimate of $1.25. SPX Technologies had a return on equity of 17.30% and a net margin of 5.16%. The business had revenue of $469.40 million during the quarter, compared to analyst estimates of $481.98 million. During the same period in the prior year, the company earned $1.17 earnings per share. SPX Technologies's revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts anticipate that SPX Technologies, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPXC has been the subject of a number of research analyst reports. UBS Group increased their price target on SPX Technologies from $90.00 to $126.00 and gave the company a "neutral" rating in a research report on Wednesday, March 27th. Oppenheimer reaffirmed an "outperform" rating and set a $134.00 price target (up from $124.00) on shares of SPX Technologies in a research report on Thursday, March 28th. Finally, StockNews.com downgraded SPX Technologies from a "buy" rating to a "hold" rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.00.

About SPX Technologies

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.