MCF Advisors LLC Cuts Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

MCF Advisors LLC lowered its position in SPX Technologies, Inc. (NYSE:SPXC) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,621 shares of the company’s stock after selling 100 shares during the period. MCF Advisors LLC’s holdings in SPX Technologies were worth $258,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in SPX Technologies in the second quarter worth $28,000. Canada Pension Plan Investment Board purchased a new position in shares of SPX Technologies in the 2nd quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in SPX Technologies during the third quarter valued at about $28,000. UMB Bank n.a. increased its holdings in SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 193 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in SPX Technologies in the second quarter worth about $39,000. 92.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer downgraded shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th.

SPX Technologies Stock Performance

Shares of NYSE SPXC traded down $0.29 during trading on Friday, reaching $157.23. 131,174 shares of the stock traded hands, compared to its average volume of 248,049. The company has a 50-day moving average of $157.89 and a 200-day moving average of $145.38. SPX Technologies, Inc. has a 52-week low of $77.90 and a 52-week high of $173.30. The stock has a market capitalization of $7.27 billion, a P/E ratio of 76.70, a price-to-earnings-growth ratio of 1.59 and a beta of 1.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.25 by $0.17. The business 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 company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. Analysts forecast that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

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.