SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 154.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,919 shares of the company's stock after purchasing an additional 115,187 shares during the period. Assenagon Asset Management S.A. owned 0.41% of SPX Technologies worth $24,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in SPX Technologies during the fourth quarter worth about $93,038,000. Raymond James Financial Inc. purchased a new position in SPX Technologies during the fourth quarter worth about $32,337,000. First Trust Advisors LP boosted 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 buying an additional 195,153 shares during the period. Franklin Resources Inc. boosted its stake in SPX Technologies by 1,260.7% during the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock worth $24,813,000 after buying an additional 157,981 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of SPX Technologies by 25,946.4% in the first quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock valued at $17,845,000 after purchasing an additional 138,035 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $153.01, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.32% of the stock is currently owned by company insiders.

SPX Technologies Trading Up 0.3%

Shares of SPXC stock traded up $0.43 during trading hours on Monday, hitting $154.88. 207,214 shares of the company were exchanged, compared to its average volume of 279,344. The firm has a market cap of $7.23 billion, a PE ratio of 41.63, a PEG ratio of 1.33 and a beta of 1.23. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average of $145.79 and a 200 day moving average of $145.21.

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

Wall Street Analyst Weigh In

Several research analysts have commented on SPXC shares. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $160.00 to $182.00 in a report on Monday, June 2nd. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Finally, B. Riley assumed coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.