SG Americas Securities LLC Invests $843,000 in SPX Technologies, Inc. (NYSE:SPXC)

SG Americas Securities LLC acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,545 shares of the company’s stock, valued at approximately $843,000.

Several other institutional investors also recently modified their holdings of SPXC. Empowered Funds LLC acquired a new position in shares of SPX Technologies during the 4th quarter worth about $27,000. Allworth Financial LP increased its stake in shares of SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after purchasing an additional 90 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of SPX Technologies by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,383 shares of the company’s stock worth $201,000 after purchasing an additional 73 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of SPX Technologies during the 4th quarter worth about $331,000. Finally, Atria Wealth Solutions Inc. increased its stake in shares of SPX Technologies by 11.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,667 shares of the company’s stock worth $243,000 after purchasing an additional 169 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Up 0.6%

Shares of SPXC opened at $156.04 on Friday. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $183.83. The firm has a market cap of $7.29 billion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. The firm’s 50-day simple moving average is $147.13 and its 200 day simple moving average is $145.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.22. The business had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. SPX Technologies’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 EPS. On average, analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analysts Set New Price Targets

SPXC has been the topic of several recent analyst reports. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research note on Wednesday, February 26th. UBS Group upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. B. Riley began coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a “buy” rating and a $195.00 price target on the stock. Finally, Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $183.20.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $153.01, for a total value of $1,043,987.23. Following the completion of the sale, the director now owns 33,770 shares of the company’s stock, valued at $5,167,147.70. The trade was a 16.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.32% of the company’s stock.

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.