KBC Group NV Has $277,000 Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

KBC Group NV lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 92.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,152 shares of the company’s stock after selling 26,465 shares during the quarter. KBC Group NV’s holdings in SPX Technologies were worth $277,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Diversified Trust Co lifted its position in SPX Technologies by 83.9% during the 1st quarter. Diversified Trust Co now owns 14,467 shares of the company’s stock valued at $1,863,000 after purchasing an additional 6,599 shares during the period. Bessemer Group Inc. boosted its stake in SPX Technologies by 1,544.0% in the first quarter. Bessemer Group Inc. now owns 6,757 shares of the company’s stock valued at $870,000 after acquiring an additional 6,346 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in SPX Technologies by 9.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 5,297 shares of the company’s stock worth $682,000 after acquiring an additional 457 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in SPX Technologies by 5.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,490 shares of the company’s stock worth $578,000 after acquiring an additional 221 shares during the period. Finally, Conestoga Capital Advisors LLC raised its position in shares of SPX Technologies by 1.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company’s stock valued at $102,920,000 after acquiring an additional 11,400 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Up 0.3%

Shares of SPX Technologies stock opened at $173.03 on Friday. The company has a market capitalization of $8.08 billion, a P/E ratio of 40.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.88 and a quick ratio of 1.24. The business has a 50-day moving average of $155.16 and a two-hundred day moving average of $145.51. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83.

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

Insider Activity at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $153.01, for a total value of $1,043,987.23. Following the sale, the director owned 33,770 shares of the company’s stock, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group upgraded SPX Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $160.00 to $182.00 in a report on Monday, June 2nd. B. Riley assumed coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They set a “buy” rating and a $195.00 price objective on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $183.20.

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.