SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. lowered its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 10.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,893 shares of the company’s stock after selling 1,275 shares during the quarter. Navellier & Associates Inc.’s holdings in SPX Technologies were worth $1,737,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of SPX Technologies in the second quarter valued at approximately $28,000. Canada Pension Plan Investment Board purchased a new position in SPX Technologies in the 2nd quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in SPX Technologies during the 3rd quarter worth $28,000. UMB Bank n.a. lifted its stake in shares of SPX Technologies by 965.0% in the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 193 shares during the period. Finally, Hilltop National Bank purchased a new stake in shares of SPX Technologies in the second quarter valued at about $39,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Trading Up 0.5 %

NYSE SPXC opened at $167.41 on Thursday. The stock has a market capitalization of $7.76 billion, a P/E ratio of 44.80, a P/E/G ratio of 1.68 and a beta of 1.22. SPX Technologies, Inc. has a 52-week low of $83.98 and a 52-week high of $173.30. The firm has a 50-day moving average price of $160.86 and a 200 day moving average price of $150.58. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

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

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.