SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Brown Advisory Inc.

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. purchased a new stake in shares of SPX Technologies during the 1st quarter worth $27,000. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of SPX Technologies by 2,055.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after purchasing an additional 185 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Covestor Ltd lifted its stake in shares of SPX Technologies by 313.8% during the 4th quarter. Covestor Ltd now owns 389 shares of the company's stock worth $57,000 after purchasing an additional 295 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake 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 during the last quarter. Institutional investors own 92.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SPXC shares. Oppenheimer increased their price target on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research note on Tuesday. UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. Finally, B. Riley started coverage on SPX Technologies in a research note on Thursday, May 15th. They issued 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 data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $189.60.

Insider Activity

In related news, Director Rick D. Puckett sold 6,823 shares of the firm's stock in a transaction dated 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 directly owned 33,770 shares of the company's stock, valued at $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.32% of the stock is currently owned by insiders.

SPX Technologies Stock Up 1.3%

SPX Technologies stock traded up $2.19 during midday trading on Wednesday, reaching $172.72. The company's stock had a trading volume of 130,578 shares, compared to its average volume of 275,059. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83. The stock has a market capitalization of $8.07 billion, a P/E ratio of 40.26, a PEG ratio of 1.49 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.88 and a quick ratio of 1.24. The stock's 50-day simple moving average is $156.63 and its 200-day simple moving average is $145.88.

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

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.