Sapient Capital LLC Purchases Shares of 3,798 SPX Technologies, Inc. (NYSE:SPXC)

Sapient Capital LLC purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,798 shares of the company’s stock, valued at approximately $384,000.

Several other institutional investors have also added to or reduced their stakes in SPXC. Norges Bank purchased a new stake in shares of SPX Technologies in the 4th quarter worth about $28,629,000. Artisan Partners Limited Partnership lifted its position in shares of SPX Technologies by 74.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 703,026 shares of the company’s stock worth $57,226,000 after purchasing an additional 301,084 shares during the period. FMR LLC lifted its position in shares of SPX Technologies by 23.0% in the 3rd quarter. FMR LLC now owns 1,338,942 shares of the company’s stock worth $108,990,000 after purchasing an additional 250,494 shares during the period. Ameriprise Financial Inc. lifted its position in shares of SPX Technologies by 11.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company’s stock worth $128,583,000 after purchasing an additional 165,544 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of SPX Technologies by 3.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,265,310 shares of the company’s stock worth $280,018,000 after purchasing an additional 160,366 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Insider Buying and Selling

In related news, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the transaction, the chief executive officer now directly owns 667,045 shares in the company, valued at approximately $76,936,970.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the sale, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the sale, the chief executive officer now owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The disclosure for this sale can be found here. Insiders sold a total of 94,373 shares of company stock worth $10,962,146 in the last three months. Insiders own 3.53% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $120.76 on Monday. SPX Technologies, Inc. has a twelve month low of $61.09 and a twelve month high of $124.81. The firm has a market cap of $5.59 billion, a P/E ratio of 62.90, a PEG ratio of 1.33 and a beta of 1.25. The company has a 50 day moving average of $115.23 and a 200 day moving average of $99.12. The company has a quick ratio of 1.08, a current ratio of 1.77 and a debt-to-equity ratio of 0.44.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.25. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The company had revenue of $469.40 million during the quarter, compared to analyst estimates of $481.98 million. During the same period in the previous year, the business earned $1.17 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts expect that SPX Technologies, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $134.00 target price (up from $124.00) on shares of SPX Technologies in a research report on Thursday, March 28th. StockNews.com cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Finally, UBS Group lifted their price target on shares of SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $130.00.

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.