TD Asset Management Inc Sells 5,170 Shares of SPX Technologies, Inc. (NYSE:SPXC)

TD Asset Management Inc lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 11.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 38,204 shares of the company’s stock after selling 5,170 shares during the period. TD Asset Management Inc’s holdings in SPX Technologies were worth $5,430,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in shares of SPX Technologies in the 2nd quarter valued at $28,000. UMB Bank n.a. grew its stake in shares of 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 purchasing an additional 193 shares during the period. Hilltop National Bank acquired a new stake in shares of SPX Technologies during the second quarter worth $39,000. YHB Investment Advisors Inc. acquired a new stake in shares of SPX Technologies during the first quarter worth $51,000. Finally, GAMMA Investing LLC grew its stake in shares of SPX Technologies by 122.6% during the second quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock worth $60,000 after purchasing an additional 233 shares during the period. Institutional investors own 92.82% of the company’s stock.

Insiders Place Their Bets

In other news, insider J Randall Data sold 39,412 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $143.89, for a total value of $5,670,992.68. Following the transaction, the insider now owns 52,657 shares of the company’s stock, valued at $7,576,815.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.53% of the company’s stock.

Analysts Set New Price Targets

Separately, Oppenheimer cut SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $144.53 on Thursday. SPX Technologies, Inc. has a one year low of $77.84 and a one year high of $164.91. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 70.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. 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 $149.80 and its 200-day moving average is $135.94.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.17. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The business had revenue of $501.30 million for the quarter, compared to analyst estimates of $492.08 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. SPX Technologies’s revenue was up 18.4% on a year-over-year basis. Equities analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share 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.