SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. boosted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 27.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,736 shares of the company’s stock after acquiring an additional 592 shares during the quarter. Raymond James Trust N.A.’s holdings in SPX Technologies were worth $389,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in shares of SPX Technologies by 2.7% in the first quarter. Fifth Third Bancorp now owns 4,524 shares of the company’s stock worth $557,000 after acquiring an additional 118 shares during the period. US Bancorp DE raised its stake in shares of SPX Technologies by 3.3% during the 4th quarter. US Bancorp DE now owns 7,254 shares of the company’s stock valued at $733,000 after buying an additional 232 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of SPX Technologies by 122.6% in the 2nd quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock valued at $60,000 after buying an additional 233 shares during the period. Hilltop National Bank purchased a new stake in shares of SPX Technologies in the second quarter worth about $39,000. Finally, Swiss National Bank grew its holdings in SPX Technologies by 0.3% during the first quarter. Swiss National Bank now owns 90,118 shares of the company’s stock worth $11,096,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com lowered SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Oppenheimer cut shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th. UBS Group increased their target price on shares of SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $159.10 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28. The firm has a fifty day moving average of $147.99 and a 200 day moving average of $132.91. The firm has a market cap of $7.36 billion, a PE ratio of 77.61, a PEG ratio of 1.53 and a beta of 1.20. SPX Technologies, Inc. has a one year low of $76.61 and a one year high of $164.91.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.17. The firm had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. As a group, research analysts predict that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Insider Buying and Selling at SPX Technologies

In other news, insider J Randall Data sold 39,412 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the transaction, the insider now owns 52,657 shares of the company’s stock, valued at approximately $7,576,815.73. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.53% of the stock is owned by insiders.

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.