SPX Technologies, Inc. $SPXC Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 35.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,066 shares of the company’s stock after acquiring an additional 38,127 shares during the quarter. Envestnet Asset Management Inc. owned 0.31% of SPX Technologies worth $27,469,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. acquired a new position in shares of SPX Technologies in the 3rd quarter valued at $28,000. Cullen Frost Bankers Inc. lifted its stake in SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of SPX Technologies in the second quarter valued at approximately $31,000. Financial Consulate Inc. acquired a new stake in SPX Technologies during the 3rd quarter worth $34,000. Finally, MAI Capital Management boosted its position in SPX Technologies by 80.9% during the second quarter. MAI Capital Management now owns 208 shares of the company’s stock worth $35,000 after acquiring an additional 93 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on SPXC shares. Truist Financial upped their target price on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a report on Thursday, December 18th. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. B. Riley Financial reiterated a “buy” rating and issued a $244.00 price objective (up previously from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, SPX Technologies has an average rating of “Moderate Buy” and an average target price of $214.14.

Insider Activity at SPX Technologies

In related news, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the sale, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. The trade was a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction on 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 owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.32% of the stock is owned by company insiders.

SPX Technologies Price Performance

SPX Technologies stock opened at $230.87 on Friday. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $240.30. The stock has a market capitalization of $11.51 billion, a PE ratio of 49.44, a price-to-earnings-growth ratio of 1.95 and a beta of 1.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70. The business has a 50 day simple moving average of $212.82 and a 200-day simple moving average of $201.56.

About SPX Technologies

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.