Blair William & Co. IL Purchases 27,289 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Key Points

• Blair William & Co. IL has increased its stake in SPX Technologies by 21.6%, owning 153,446 shares valued at approximately $19.76 million.
• Shares of SPX Technologies rose by 1.3% during recent trading, reaching $203.52, while the company reported a 10.2% year-over-year revenue increase of $552.4 million.
• A number of analysts have raised their price targets and ratings for SPX Technologies, with UBS Group increasing its target from $182.00 to $210.00 and giving a "buy" rating.

Blair William & Co. IL lifted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 153,446 shares of the company's stock after buying an additional 27,289 shares during the quarter. Blair William & Co. IL owned about 0.33% of SPX Technologies worth $19,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of SPX Technologies in the first quarter valued at approximately $27,000. Eastern Bank bought a new position in SPX Technologies during the 1st quarter worth $38,000. Covestor Ltd raised its holdings in SPX Technologies by 313.8% in the 4th quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after acquiring an additional 295 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of SPX Technologies by 211.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock valued at $78,000 after acquiring an additional 410 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of SPX Technologies by 18.5% during the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Wall Street Analysts Forecast Growth

SPXC has been the topic of a number of analyst reports. Oppenheimer increased their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. B. Riley assumed coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. Finally, UBS Group upped their target price on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, SPX Technologies has a consensus rating of "Buy" and an average price target of $195.20.

SPX Technologies Price Performance

SPX Technologies stock traded down $0.27 during mid-day trading on Wednesday, reaching $203.44. The company had a trading volume of 361,425 shares, compared to its average volume of 300,556. The business has a fifty day simple moving average of $168.63 and a 200 day simple moving average of $150.70. The company has a market cap of $9.51 billion, a P/E ratio of 34.35, a P/E/G ratio of 1.73 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $206.04.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.20. The business had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%. SPX Technologies's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. On average, equities research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Insider Transactions at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the sale, the director directly owned 33,770 shares of the company's stock, valued at $5,167,147.70. The trade was a 16.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.32% of the stock is currently owned by company insiders.

SPX Technologies Company 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.