Copperwynd Financial LLC Buys New Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Copperwynd Financial LLC purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,929 shares of the company's stock, valued at approximately $248,000.

Several other large investors have also made changes to their positions in SPXC. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after acquiring an additional 151 shares in the last quarter. NBC Securities Inc. bought a new stake in SPX Technologies during the 1st quarter valued at $27,000. Covestor Ltd lifted its holdings in shares of SPX Technologies by 313.8% in the fourth quarter. Covestor Ltd now owns 389 shares of the company's stock worth $57,000 after buying an additional 295 shares in the last quarter. Huntington National Bank grew its position in SPX Technologies by 17.6% during the fourth quarter. Huntington National Bank now owns 587 shares of the company's stock worth $85,000 after buying an additional 88 shares in the last quarter. Finally, Signaturefd LLC grew its stake in SPX Technologies by 15.9% in the 4th quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $91,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Stock Up 1.4%

Shares of NYSE SPXC traded up $2.46 during midday trading on Wednesday, reaching $176.29. 43,078 shares of the company's stock were exchanged, compared to its average volume of 270,775. The stock has a market capitalization of $8.23 billion, a PE ratio of 41.02, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88. The business's fifty day moving average price is $161.37 and its two-hundred day moving average price is $147.49.

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

Insiders Place Their Bets

In related 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 value of $1,043,987.23. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Oppenheimer increased their target price on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company 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 target price on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SPX Technologies has an average rating of "Buy" and an average price target of $189.60.

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.