6,909 Shares in SPX Technologies, Inc. (NYSE:SPXC) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,909 shares of the company’s stock, valued at approximately $890,000.

Several other large investors have also recently added to or reduced their stakes in SPXC. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares during the last quarter. NBC Securities Inc. bought a new stake in SPX Technologies in the first quarter worth $27,000. Covestor Ltd increased its position in SPX Technologies by 313.8% during the fourth quarter. Covestor Ltd now owns 389 shares of the company’s stock worth $57,000 after buying an additional 295 shares during the last quarter. Huntington National Bank raised its holdings in SPX Technologies by 17.6% during the fourth quarter. Huntington National Bank now owns 587 shares of the company’s stock valued at $85,000 after buying an additional 88 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of SPX Technologies by 211.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company’s stock worth $78,000 after buying an additional 410 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPXC. B. Riley initiated coverage on SPX Technologies in a report on Thursday, May 15th. They set a “buy” rating and a $195.00 price objective on the stock. Oppenheimer upped their target price on SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, UBS Group lifted their price target on shares of SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. 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 MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $195.20.

SPX Technologies Trading Up 7.7%

Shares of NYSE:SPXC opened at $196.43 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88. The stock’s 50-day moving average is $166.62 and its 200-day moving average is $149.95. The company has a market cap of $9.18 billion, a P/E ratio of 44.14, a P/E/G ratio of 1.60 and a beta of 1.27. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $198.75.

SPX Technologies (NYSE:SPXC) last released 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 20.07% and a net margin of 10.27%. 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 company’s revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Insider Transactions at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction on 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 directly owned 33,770 shares of the company’s stock, valued at $5,167,147.70. This represents a 16.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.