SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC decreased its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,088 shares of the company’s stock after selling 133 shares during the quarter. AE Wealth Management LLC’s holdings in SPX Technologies were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPXC. Raymond James Financial Inc. purchased a new position in shares of SPX Technologies during the 4th quarter valued at about $32,337,000. First Trust Advisors LP boosted its stake in shares of SPX Technologies by 54.5% in the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company’s stock worth $80,519,000 after buying an additional 195,153 shares during the last quarter. Franklin Resources Inc. grew its holdings in SPX Technologies by 1,260.7% during the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company’s stock worth $24,813,000 after acquiring an additional 157,981 shares during the period. GAMMA Investing LLC raised its position in SPX Technologies by 25,946.4% during the first quarter. GAMMA Investing LLC now owns 138,567 shares of the company’s stock valued at $17,845,000 after acquiring an additional 138,035 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in SPX Technologies by 154.1% during the first quarter. Assenagon Asset Management S.A. now owns 189,919 shares of the company’s stock valued at $24,458,000 after acquiring an additional 115,187 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Insider Transactions at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies 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 sale, the director owned 33,770 shares in the company, valued at $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.32% of the stock is currently owned by insiders.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $182.19 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83. The business’s 50 day moving average is $165.69 and its two-hundred day moving average is $149.60. The company has a market capitalization of $8.51 billion, a P/E ratio of 42.47, a P/E/G ratio of 1.59 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.67% and a net margin of 10.13%. The firm had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. During the same quarter last year, the firm posted $1.42 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SPXC shares. B. Riley started coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a “buy” rating and a $195.00 price objective on the stock. Oppenheimer boosted their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Finally, UBS Group upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $160.00 to $182.00 in a research report on Monday, June 2nd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $189.60.

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.