SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its stake in shares of SPX Technologies, Inc. (NYSE:SPXC – Get Rating) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,699 shares of the company’s stock after selling 678 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in SPX Technologies were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SPXC. Fairfield Bush & CO. acquired a new stake in SPX Technologies during the 1st quarter worth approximately $35,000. Lazard Asset Management LLC acquired a new stake in SPX Technologies during the 3rd quarter worth approximately $82,000. Keybank National Association OH acquired a new stake in SPX Technologies during the 3rd quarter worth approximately $201,000. PDT Partners LLC acquired a new stake in SPX Technologies during the 3rd quarter worth approximately $201,000. Finally, Profund Advisors LLC acquired a new stake in SPX Technologies during the 4th quarter worth approximately $202,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SPXC. Oppenheimer raised their price target on SPX Technologies from $82.00 to $85.00 in a report on Friday, May 5th. TheStreet cut SPX Technologies from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. StockNews.com began coverage on SPX Technologies in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, William Blair began coverage on SPX Technologies in a report on Monday, April 17th. They issued an “outperform” rating for the company.

SPX Technologies Stock Performance

NYSE SPXC opened at $72.81 on Friday. SPX Technologies, Inc. has a 1-year low of $45.02 and a 1-year high of $78.30. The company has a market capitalization of $3.31 billion, a P/E ratio of 108.67, a PEG ratio of 1.02 and a beta of 1.24. The business has a 50 day moving average price of $67.99 and a 200 day moving average price of $69.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.08 and a quick ratio of 1.41.

SPX Technologies (NYSE:SPXC – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.33. SPX Technologies had a return on equity of 15.33% and a net margin of 2.03%. The firm had revenue of $399.80 million during the quarter, compared to the consensus estimate of $329.78 million. During the same period last year, the business posted $0.40 EPS. SPX Technologies’s quarterly revenue was up 30.2% on a year-over-year basis. Sell-side analysts expect that SPX Technologies, Inc. will post 3.91 EPS for the current fiscal year.

Insider Activity at SPX Technologies

In other SPX Technologies news, VP John Webster Nurkin sold 11,131 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $71.46, for a total transaction of $795,421.26. Following the completion of the transaction, the vice president now owns 88,196 shares of the company’s stock, valued at $6,302,486.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other SPX Technologies news, insider J Randall Data sold 12,500 shares of the firm’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $70.22, for a total transaction of $877,750.00. Following the completion of the transaction, the insider now owns 79,624 shares of the company’s stock, valued at $5,591,197.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Webster Nurkin sold 11,131 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $71.46, for a total value of $795,421.26. Following the transaction, the vice president now directly owns 88,196 shares of the company’s stock, valued at approximately $6,302,486.16. The disclosure for this sale can be found here. Insiders sold 70,095 shares of company stock valued at $4,929,340 in the last ninety days. Corporate insiders own 4.02% of the company’s stock.

About SPX Technologies

(Get Rating)

SPX Technologies, Inc engages in the supply of infrastructure equipment. It operates through the HVAC and Detection and Measurement segments. The HVAC segment engineers, designs, manufactures, installs, and services cooling products and engineered air quality solutions to the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets.