Diversified Trust Co boosted its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 83.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,467 shares of the company's stock after buying an additional 6,599 shares during the quarter. Diversified Trust Co's holdings in SPX Technologies were worth $1,863,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of 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. Skandinaviska Enskilda Banken AB publ raised its position in shares of SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after purchasing an additional 185 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of SPX Technologies in the 1st quarter valued at approximately $27,000. Covestor Ltd boosted 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 valued at $57,000 after buying an additional 295 shares during the last quarter. Finally, Huntington National Bank grew its position in shares of 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. 92.82% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Rick D. Puckett sold 6,823 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 33,770 shares in the company, valued at approximately $5,167,147.70. This 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 accessible through the SEC website. Company insiders own 3.32% of the company's stock.
SPX Technologies Stock Performance
SPX Technologies stock traded up $1.67 during mid-day trading on Tuesday, reaching $169.35. The company's stock had a trading volume of 198,449 shares, compared to its average volume of 273,134. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $183.83. The business has a 50 day moving average price of $151.87 and a 200-day moving average price of $144.90. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 1.47 and a beta of 1.23.
SPX Technologies (NYSE:SPXC - Get Free Report) last issued 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 net margin of 10.13% and a return on equity of 19.67%. The firm had revenue of $482.60 million for the quarter, compared to analysts' expectations of $481.32 million. During the same quarter last year, the company posted $1.25 earnings per share. SPX Technologies's revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently issued reports on SPXC shares. B. Riley assumed 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. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. 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 MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $183.20.
Check Out Our Latest Stock Analysis on SPX Technologies
About SPX Technologies
(
Free Report)
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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