Cerity Partners LLC Makes New $204,000 Investment in SPX Technologies, Inc. (NYSE:SPXC)

Cerity Partners LLC bought a new position in SPX Technologies, Inc. (NYSE:SPXC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,021 shares of the company’s stock, valued at approximately $204,000.

A number of other large investors have also made changes to their positions in SPXC. Segment Wealth Management LLC purchased a new position in SPX Technologies during the 4th quarter worth approximately $202,000. Raymond James Trust N.A. purchased a new position in shares of SPX Technologies during the fourth quarter valued at $233,000. TIAA Trust National Association acquired a new position in SPX Technologies during the third quarter valued at $234,000. Sequoia Financial Advisors LLC lifted its stake in SPX Technologies by 4.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,050 shares of the company’s stock worth $248,000 after acquiring an additional 139 shares in the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new stake in SPX Technologies during the 3rd quarter worth about $251,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SPXC. UBS Group upped their target price on SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Oppenheimer reiterated an “outperform” rating and issued a $134.00 target price (up previously from $124.00) on shares of SPX Technologies in a research report on Thursday, March 28th. Finally, StockNews.com cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday, March 15th.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the sale, the insider now owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the transaction, the insider now owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the completion of 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 have sold 94,373 shares of company stock valued at $10,962,146 over the last three months. 3.53% of the stock is currently owned by insiders.

SPX Technologies Trading Up 0.8 %

Shares of NYSE SPXC opened at $122.55 on Tuesday. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 1.34 and a beta of 1.25. The business has a 50 day simple moving average of $117.83 and a 200 day simple moving average of $102.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.77. SPX Technologies, Inc. has a 52 week low of $61.09 and a 52 week high of $124.81.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, February 22nd. The company reported $1.25 EPS for the quarter, hitting the consensus estimate of $1.25. The company had revenue of $469.40 million during the quarter, compared to the consensus estimate of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, research analysts predict that SPX Technologies, Inc. will post 5.05 earnings per share for the current fiscal year.

SPX Technologies Company 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.