Jane Street Group LLC Has $7.88 Million Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Jane Street Group LLC decreased its position in SPX Technologies, Inc. (NYSE:SPXC) by 24.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,423 shares of the company’s stock after selling 16,060 shares during the quarter. Jane Street Group LLC’s holdings in SPX Technologies were worth $7,881,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in SPX Technologies by 4.7% during the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock worth $278,000 after purchasing an additional 78 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of SPX Technologies by 4.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock worth $503,000 after buying an additional 146 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of SPX Technologies by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock valued at $1,632,000 after acquiring an additional 158 shares in the last quarter. KBC Group NV increased its position in shares of SPX Technologies by 14.3% in the third quarter. KBC Group NV now owns 1,295 shares of the company’s stock valued at $207,000 after acquiring an additional 162 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in SPX Technologies by 3.8% during the second quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock worth $668,000 after acquiring an additional 174 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on SPXC shares. Wolfe Research assumed coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target for the company. Sidoti downgraded shares of SPX Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $187.00 to $175.00 in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SPX Technologies has an average rating of “Hold” and an average price target of $164.00.

SPX Technologies Price Performance

NYSE:SPXC opened at $155.53 on Friday. SPX Technologies, Inc. has a 12-month low of $93.02 and a 12-month high of $183.83. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 42.47, a P/E/G ratio of 1.61 and a beta of 1.26. The stock’s 50 day moving average price is $164.95 and its two-hundred day moving average price is $153.90. 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 for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. During the same quarter in the prior year, the business earned $1.06 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts anticipate 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.