Commerce Bank Trims Position in SPX Technologies, Inc. (NYSE:SPXC)

Commerce Bank decreased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,515 shares of the company’s stock after selling 591 shares during the quarter. Commerce Bank’s holdings in SPX Technologies were worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in SPX Technologies by 195.2% in the second quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock worth $2,060,000 after acquiring an additional 9,582 shares in the last quarter. Victory Capital Management Inc. grew its position in SPX Technologies by 15.7% during the 2nd quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock valued at $10,485,000 after purchasing an additional 10,010 shares during the last quarter. Diversified Trust Co bought a new stake in SPX Technologies during the 2nd quarter valued at about $798,000. Dana Investment Advisors Inc. purchased a new position in SPX Technologies in the second quarter worth about $855,000. Finally, Park Avenue Securities LLC bought a new position in shares of SPX Technologies in the second quarter worth approximately $607,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Up 2.0 %

NYSE:SPXC opened at $176.01 on Monday. SPX Technologies, Inc. has a 52 week low of $83.98 and a 52 week high of $176.35. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 1.73 and a beta of 1.22. The company’s 50 day moving average price is $161.84 and its 200-day moving average price is $151.25. 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 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. The business had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. On average, equities research analysts forecast that SPX Technologies, Inc. will post 5.56 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.