Emerald Mutual Fund Advisers Trust Sells 15,232 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Emerald Mutual Fund Advisers Trust lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,750 shares of the company's stock after selling 15,232 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.18% of SPX Technologies worth $12,042,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Barclays PLC increased its position in SPX Technologies by 299.0% in the 3rd quarter. Barclays PLC now owns 84,567 shares of the company's stock valued at $13,485,000 after buying an additional 63,373 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in SPX Technologies during the third quarter worth $194,000. Tidal Investments LLC lifted its stake in shares of SPX Technologies by 6.6% in the third quarter. Tidal Investments LLC now owns 3,026 shares of the company's stock valued at $483,000 after buying an additional 188 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of SPX Technologies by 2.1% during the third quarter. Synovus Financial Corp now owns 9,489 shares of the company's stock valued at $1,513,000 after buying an additional 199 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of SPX Technologies by 188.4% during the third quarter. Franklin Resources Inc. now owns 12,531 shares of the company's stock worth $2,127,000 after acquiring an additional 8,186 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Stock Performance

Shares of NYSE:SPXC traded up $8.20 during mid-day trading on Friday, reaching $144.87. The company had a trading volume of 388,242 shares, compared to its average volume of 278,360. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The company's 50-day moving average price is $133.51 and its 200-day moving average price is $147.34. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same period in the previous year, the company posted $1.25 earnings per share. The business's revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group dropped their price target on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $174.75.

SPX Technologies 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.