Brown Advisory Inc. Has $47.86 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Brown Advisory Inc. decreased its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 371,653 shares of the company's stock after selling 2,823 shares during the quarter. Brown Advisory Inc. owned 0.79% of SPX Technologies worth $47,861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SPXC. Norges Bank acquired a new stake in SPX Technologies during the 4th quarter worth about $93,038,000. Raymond James Financial Inc. purchased a new stake in shares of SPX Technologies during the 4th quarter worth about $32,337,000. First Trust Advisors LP raised its stake in shares of SPX Technologies by 54.5% during the 4th quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after purchasing an additional 195,153 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of SPX Technologies by 1,260.7% during the 4th quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock worth $24,813,000 after purchasing an additional 157,981 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of SPX Technologies by 25,946.4% during the 1st quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock worth $17,845,000 after purchasing an additional 138,035 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the firm's stock in a transaction that occurred 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 owned 33,770 shares of the company's stock, valued at $5,167,147.70. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Oppenheimer raised their price target on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group raised SPX Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $160.00 to $182.00 in a research note on Monday, June 2nd. Finally, B. Riley assumed coverage on SPX Technologies in a research note on Thursday, May 15th. They set a "buy" rating and a $195.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $189.60.

SPX Technologies Stock Performance

Shares of SPXC stock traded down $1.06 during trading on Friday, reaching $172.02. The company had a trading volume of 190,429 shares, compared to its average volume of 274,330. The firm's 50 day simple moving average is $158.68 and its two-hundred day simple moving average is $146.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.88 and a quick ratio of 1.24. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83. The company has a market capitalization of $8.04 billion, a PE ratio of 40.10, a PEG ratio of 1.51 and a beta of 1.24.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.67% and a net margin of 10.13%. The business had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. During the same period last year, the business earned $1.25 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

About SPX Technologies

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.