Charles Schwab Investment Management Inc. Has $81.89 Million Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Charles Schwab Investment Management Inc. boosted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 635,862 shares of the company’s stock after purchasing an additional 10,501 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.36% of SPX Technologies worth $81,886,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Conestoga Capital Advisors LLC raised its stake in SPX Technologies by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company’s stock valued at $102,920,000 after purchasing an additional 11,400 shares in the last quarter. Janus Henderson Group PLC raised its stake in SPX Technologies by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company’s stock valued at $105,321,000 after purchasing an additional 26,995 shares in the last quarter. Nuveen Asset Management LLC raised its stake in SPX Technologies by 1.7% during the fourth quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company’s stock worth $102,714,000 after acquiring an additional 11,771 shares in the last quarter. First Trust Advisors LP raised its stake in SPX Technologies by 54.5% during the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company’s stock worth $80,519,000 after acquiring an additional 195,153 shares in the last quarter. Finally, Northern Trust Corp raised its stake in SPX Technologies by 11.7% during the fourth quarter. Northern Trust Corp now owns 538,501 shares of the company’s stock worth $78,363,000 after acquiring an additional 56,221 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on SPXC shares. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Oppenheimer boosted their target price on SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. B. Riley started coverage on SPX Technologies in a research note on Thursday, May 15th. They set a “buy” rating and a $195.00 target price for the company. Finally, UBS Group boosted their target price on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SPX Technologies presently has a consensus rating of “Buy” and a consensus target price of $195.20.

SPX Technologies Stock Performance

NYSE:SPXC opened at $191.96 on Thursday. The stock has a market cap of $8.98 billion, a P/E ratio of 43.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average is $173.93 and its 200-day moving average is $152.63. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $209.38.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.20. The company had revenue of $552.40 million for the quarter, compared to analysts’ expectations of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 earnings per share. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Insider Buying and Selling at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the sale, the director directly owned 33,770 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 3.32% of the company’s stock.

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.