AustralianSuper Pty Ltd Purchases New Holdings in SPX Technologies, Inc. $SPXC

AustralianSuper Pty Ltd acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 220,000 shares of the company’s stock, valued at approximately $41,092,000. AustralianSuper Pty Ltd owned 0.47% of SPX Technologies at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SPXC. Royal Bank of Canada grew its holdings in shares of SPX Technologies by 8.1% during the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after purchasing an additional 2,892 shares in the last quarter. AQR Capital Management LLC lifted its position in SPX Technologies by 74.5% during the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after purchasing an additional 8,854 shares during the period. Millennium Management LLC grew its stake in SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after buying an additional 56,799 shares in the last quarter. NewEdge Advisors LLC grew its stake in SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after buying an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in SPX Technologies by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after buying an additional 3,353 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

NYSE SPXC opened at $211.35 on Thursday. The firm’s fifty day moving average price is $210.67 and its two-hundred day moving average price is $198.34. The stock has a market cap of $10.53 billion, a PE ratio of 45.26, a PEG ratio of 1.80 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $233.71.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.24. The company had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.SPX Technologies’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. On average, equities analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Insider Activity

In other news, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the sale, the insider directly owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares of the company’s stock, valued at $13,243,294.62. This represents a 37.62% decrease in their position. The SEC filing for this sale provides additional information. 3.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SPXC shares. Truist Financial upped their price target on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Bank of America assumed coverage on SPX Technologies in a research note on Wednesday, October 8th. They set a “neutral” rating and a $202.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, Wells Fargo & Company initiated coverage on SPX Technologies in a report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price target for the company. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, SPX Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $214.14.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.