Putnam Investments LLC Lowers Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Posted by on Mar 14th, 2023

Putnam Investments LLC lowered its holdings in SPX Technologies, Inc. (NYSE:SPXC – Get Rating) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,570 shares of the company’s stock after selling 2,386 shares during the quarter. Putnam Investments LLC’s holdings in SPX Technologies were worth $915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wakefield Asset Management LLLP purchased a new position in shares of SPX Technologies in the third quarter worth $690,000. Lazard Asset Management LLC purchased a new position in shares of SPX Technologies in the third quarter worth $82,000. New Century Advisors LLC raised its stake in shares of SPX Technologies by 62.7% in the third quarter. New Century Advisors LLC now owns 506 shares of the company’s stock worth $28,000 after purchasing an additional 195 shares during the last quarter. PDT Partners LLC purchased a new position in shares of SPX Technologies in the third quarter worth $201,000. Finally, Natixis Advisors L.P. raised its stake in shares of SPX Technologies by 19.3% in the second quarter. Natixis Advisors L.P. now owns 95,936 shares of the company’s stock worth $5,069,000 after purchasing an additional 15,488 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

SPX Technologies Stock Down 2.7 %

SPX Technologies stock opened at $66.06 on Tuesday. The stock has a fifty day moving average of $71.64 and a 200 day moving average of $66.07. SPX Technologies, Inc. has a one year low of $41.66 and a one year high of $78.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.43 and a current ratio of 2.16. The stock has a market cap of $3.00 billion, a PE ratio of -6,606,000.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23.

SPX Technologies (NYSE:SPXC – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.19. SPX Technologies had a return on equity of 13.14% and a net margin of 0.01%. The business had revenue of $429.30 million during the quarter, compared to analyst estimates of $416.00 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. SPX Technologies’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 3.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SPXC shares. StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 27th. Oppenheimer upped their price objective on SPX Technologies from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, February 24th.

About SPX Technologies

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SPX Technologies, Inc is a supplier of engineered products and technologies in the HVAC and detection and measurement markets. The company was founded in 1912 and is headquartered in Charlotte, NC.

See Also

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Institutional Ownership by Quarter for SPX Technologies (NYSE:SPXC)

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