Wealth Enhancement Advisory Services LLC Acquires 218 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 8.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,892 shares of the company’s stock after acquiring an additional 218 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in SPX Technologies were worth $372,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of SPX Technologies during the 1st quarter worth approximately $27,000. Skandinaviska Enskilda Banken AB publ grew its stake in shares of SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock valued at $28,000 after buying an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock valued at $29,000 after buying an additional 151 shares in the last quarter. Covestor Ltd grew its stake in shares of SPX Technologies by 313.8% in the fourth quarter. Covestor Ltd now owns 389 shares of the company’s stock valued at $57,000 after buying an additional 295 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company’s stock valued at $83,000 after buying an additional 98 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SPXC shares. UBS Group raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. B. Riley started coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a “buy” rating and a $195.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $183.20.

Insider Buying and Selling

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the completion of the transaction, the director directly owned 33,770 shares of the company’s stock, valued at $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.32% of the stock is currently owned by company insiders.

SPX Technologies Trading Up 0.3%

SPXC stock opened at $173.03 on Monday. 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 company has a fifty day moving average price of $155.16 and a two-hundred day moving average price of $145.53. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.38 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $481.32 million. During the same period in the previous year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

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.