GAMMA Investing LLC Has $17.85 Million Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

GAMMA Investing LLC raised its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 25,946.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,567 shares of the company's stock after purchasing an additional 138,035 shares during the quarter. GAMMA Investing LLC owned about 0.30% of SPX Technologies worth $17,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in SPX Technologies during the fourth quarter worth approximately $93,038,000. Raymond James Financial Inc. acquired a new position in SPX Technologies during the fourth quarter worth about $32,337,000. First Trust Advisors LP raised its position in SPX Technologies by 54.5% in the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after acquiring an additional 195,153 shares in the last quarter. Franklin Resources Inc. lifted its holdings in SPX Technologies by 1,260.7% in the 4th quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock valued at $24,813,000 after acquiring an additional 157,981 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of SPX Technologies by 16.1% in the 4th quarter. JPMorgan Chase & Co. now owns 685,445 shares of the company's stock worth $99,746,000 after purchasing an additional 94,893 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Insider Activity at SPX Technologies

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 transaction 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. 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 this link. 3.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SPXC shares. UBS Group raised SPX Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $160.00 to $182.00 in a research report on Monday. B. Riley initiated coverage on shares of SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price for the company. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Wednesday, February 26th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $183.20.

SPX Technologies Price Performance

NYSE SPXC traded up $1.33 during trading on Friday, reaching $157.57. 122,789 shares of the company traded hands, compared to its average volume of 278,205. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 42.36, a P/E/G ratio of 1.33 and a beta of 1.21. The stock's 50 day moving average price is $141.24 and its two-hundred day moving average price is $146.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

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, beating analysts' consensus estimates 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 net margin of 9.11% and a return on equity of 19.70%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

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.