Diversified Trust Co Raises Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Diversified Trust Co boosted its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 83.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,467 shares of the company's stock after buying an additional 6,599 shares during the period. Diversified Trust Co's holdings in SPX Technologies were worth $1,863,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Comerica Bank increased its stake in SPX Technologies by 25.4% in the 4th quarter. Comerica Bank now owns 86,267 shares of the company's stock worth $12,554,000 after buying an additional 17,472 shares in the last quarter. Arizona State Retirement System grew its position in shares of SPX Technologies by 0.9% during the fourth quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock valued at $1,955,000 after purchasing an additional 123 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of SPX Technologies by 61.4% during the fourth quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock valued at $1,620,000 after purchasing an additional 4,229 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of SPX Technologies by 11.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,667 shares of the company's stock valued at $243,000 after purchasing an additional 169 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of SPX Technologies during the fourth quarter valued at about $32,337,000. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Trading Up 0.6%

SPXC opened at $167.48 on Friday. The firm has a market cap of $7.82 billion, a P/E ratio of 39.04, a P/E/G ratio of 1.46 and a beta of 1.23. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $183.83. 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 50-day moving average of $151.00 and a 200 day moving average of $145.01.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.16 by $0.22. The company had revenue of $482.60 million during 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 firm's revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. As a group, research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SPXC shares. B. Riley started coverage on SPX Technologies in a research report on Thursday, May 15th. They set a "buy" rating and a $195.00 price objective for the company. UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $160.00 to $182.00 in a research report on Monday, June 2nd. 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, SPX Technologies currently has a consensus rating of "Buy" and an average price target of $183.20.

Insider Buying and Selling

In related news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction dated 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 now owns 33,770 shares in the company, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.32% of the stock is currently owned by company insiders.

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.

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