Brown Advisory Inc. Cuts Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Brown Advisory Inc. decreased its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 371,653 shares of the company's stock after selling 2,823 shares during the period. Brown Advisory Inc. owned about 0.79% of SPX Technologies worth $47,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SPXC. Teacher Retirement System of Texas boosted its holdings in SPX Technologies by 71.3% during the first quarter. Teacher Retirement System of Texas now owns 11,453 shares of the company's stock worth $1,475,000 after buying an additional 4,766 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in SPX Technologies by 17.0% during the first quarter. Vontobel Holding Ltd. now owns 7,955 shares of the company's stock worth $1,024,000 after buying an additional 1,155 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in SPX Technologies by 2.3% during the first quarter. Peregrine Capital Management LLC now owns 94,547 shares of the company's stock worth $12,176,000 after buying an additional 2,136 shares in the last quarter. Diversified Trust Co raised its position in SPX Technologies by 83.9% during the first quarter. Diversified Trust Co now owns 14,467 shares of the company's stock worth $1,863,000 after acquiring an additional 6,599 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of SPX Technologies by 1,544.0% in the first quarter. Bessemer Group Inc. now owns 6,757 shares of the company's stock valued at $870,000 after purchasing an additional 6,346 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Trading Down 0.6%

Shares of SPXC traded down $1.06 on Friday, hitting $172.02. 189,774 shares of the stock traded hands, compared to its average volume of 275,032. The company has a quick ratio of 1.24, a current ratio of 1.88 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $8.04 billion, a P/E ratio of 40.10, a P/E/G ratio of 1.52 and a beta of 1.24. The stock's 50 day moving average is $158.14 and its two-hundred day moving average is $146.26. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83.

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, beating the consensus estimate of $1.16 by $0.22. The business had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. As a group, sell-side analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on SPXC shares. Oppenheimer upped their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a report on Tuesday. UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $160.00 to $182.00 in a report on Monday, June 2nd. Finally, B. Riley began coverage on shares of SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $189.60.

Insiders Place Their Bets

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.32% of the stock is currently owned by corporate 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.