US Bancorp DE Has $974,000 Position in SPX Technologies, Inc. (NYSE:SPXC)

US Bancorp DE lowered its position in SPX Technologies, Inc. (NYSE:SPXC) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,107 shares of the company’s stock after selling 1,138 shares during the quarter. US Bancorp DE’s holdings in SPX Technologies were worth $974,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in SPX Technologies in the second quarter valued at $28,000. Canada Pension Plan Investment Board acquired a new stake in SPX Technologies in the second quarter valued at $28,000. V Square Quantitative Management LLC acquired a new stake in SPX Technologies in the third quarter valued at $28,000. UMB Bank n.a. lifted its stake in shares of SPX Technologies by 965.0% during the 2nd 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 acquired a new stake in shares of SPX Technologies during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analysts Set New Price Targets

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

SPX Technologies Price Performance

NYSE:SPXC opened at $169.09 on Friday. SPX Technologies, Inc. has a 52 week low of $82.93 and a 52 week high of $173.30. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 45.45, a P/E/G ratio of 1.64 and a beta of 1.22. The firm’s 50-day simple moving average is $157.87 and its 200 day simple moving average is $147.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. During the same period last year, the firm earned $1.06 earnings per share. SPX Technologies’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 5.56 earnings per share for the current 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.