Copperwynd Financial LLC Takes Position in SPX Technologies, Inc. (NYSE:SPXC)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of SPX Technologies by 1.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock valued at $632,000 after purchasing an additional 68 shares in the last quarter. Bank of Montreal Can boosted its holdings in SPX Technologies by 1.3% in the fourth quarter. Bank of Montreal Can now owns 6,316 shares of the company's stock worth $919,000 after acquiring an additional 78 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in SPX Technologies by 1.9% in the first quarter. Park Avenue Securities LLC now owns 4,497 shares of the company's stock worth $579,000 after acquiring an additional 83 shares in the last quarter. Signaturefd LLC boosted its holdings in SPX Technologies by 15.9% in the fourth quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $91,000 after acquiring an additional 86 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in SPX Technologies by 17.6% in the fourth quarter. Huntington National Bank now owns 587 shares of the company's stock worth $85,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Insider Buying and Selling at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction 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 completion of the transaction, the director directly owned 33,770 shares in the company, valued at approximately $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.32% of the company's stock.

SPX Technologies Stock Performance

NYSE:SPXC opened at $177.79 on Friday. 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 business has a fifty day simple moving average of $161.37 and a two-hundred day simple moving average of $147.48. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The company has a market capitalization of $8.30 billion, a P/E ratio of 41.44, a P/E/G ratio of 1.56 and a beta of 1.24.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $481.32 million. During the same period last year, the business posted $1.25 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on SPXC shares. UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $160.00 to $182.00 in a report on Monday, June 2nd. Oppenheimer raised 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. Finally, B. Riley started coverage on SPX Technologies in a report on Thursday, May 15th. They issued 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $189.60.

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.

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