Assenagon Asset Management S.A. Boosts Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Assenagon Asset Management S.A. grew its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 154.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,919 shares of the company's stock after acquiring an additional 115,187 shares during the quarter. Assenagon Asset Management S.A. owned 0.41% of SPX Technologies worth $24,458,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SPXC. Vanguard Group Inc. raised its stake in SPX Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock valued at $732,153,000 after acquiring an additional 89,770 shares during the period. Invesco Ltd. grew its holdings in shares of SPX Technologies by 3.4% during the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after purchasing an additional 37,468 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of SPX Technologies by 3.9% during the 4th quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after purchasing an additional 26,995 shares in the last quarter. FMR LLC boosted its stake in SPX Technologies by 8.5% in the fourth quarter. FMR LLC now owns 718,298 shares of the company's stock valued at $104,527,000 after buying an additional 56,175 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in SPX Technologies by 1.7% in the fourth quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company's stock valued at $102,714,000 after buying an additional 11,771 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Insider Buying and Selling at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction on 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 now directly owns 33,770 shares in the company, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.32% of the company's stock.

SPX Technologies Trading Down 2.8%

Shares of SPXC traded down $4.44 during mid-day trading on Friday, reaching $154.32. 145,970 shares of the company were exchanged, compared to its average volume of 279,634. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The stock has a market capitalization of $7.21 billion, a PE ratio of 41.48, a PEG ratio of 1.33 and a beta of 1.23. The business has a 50 day simple moving average of $145.11 and a two-hundred day simple moving average of $145.56.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPXC. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Wednesday, February 26th. B. Riley began coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price for the company. Finally, UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $160.00 to $182.00 in a research report on Monday, June 2nd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $183.20.

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.