Cerity Partners LLC Sells 3,620 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Cerity Partners LLC trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,319 shares of the company's stock after selling 3,620 shares during the period. Cerity Partners LLC owned about 0.13% of SPX Technologies worth $8,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of SPX Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock worth $732,153,000 after buying an additional 89,770 shares during the period. Invesco Ltd. boosted its position in shares of SPX Technologies by 3.4% during the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after buying an additional 37,468 shares during the period. Conestoga Capital Advisors LLC raised its holdings in SPX Technologies by 1.4% during the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock worth $102,920,000 after acquiring an additional 11,400 shares in the last quarter. Janus Henderson Group PLC raised its holdings in SPX Technologies by 3.9% during the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after acquiring an additional 26,995 shares in the last quarter. Finally, FMR LLC raised its holdings in SPX Technologies by 8.5% during the fourth quarter. FMR LLC now owns 718,298 shares of the company's stock worth $104,527,000 after acquiring an additional 56,175 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $153.01, for a total value of $1,043,987.23. Following the completion of the sale, the director owned 33,770 shares in the company, valued at $5,167,147.70. The trade was a 16.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.32% of the company's stock.

SPX Technologies Stock Performance

NYSE:SPXC traded down $2.11 on Friday, hitting $178.01. The company's stock had a trading volume of 58,083 shares, compared to its average volume of 272,592. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $160.79 and a two-hundred day moving average of $147.24. The firm has a market capitalization of $8.31 billion, a P/E ratio of 41.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last released 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 firm had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. SPX Technologies had a return on equity of 19.67% and a net margin of 10.13%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. Research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SPXC shares. UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and upped their target price for the stock from $160.00 to $182.00 in a report on Monday, June 2nd. Oppenheimer increased their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, B. Riley started coverage on shares of 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $189.60.

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.