SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lessened its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 3.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 429,102 shares of the company's stock after selling 13,668 shares during the period. GW&K Investment Management LLC owned 0.92% of SPX Technologies worth $55,259,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of SPX Technologies during the 1st quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in SPX Technologies by 377.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock valued at $29,000 after buying an additional 151 shares during the last quarter. Covestor Ltd grew its position in shares of SPX Technologies by 313.8% during the 4th quarter. Covestor Ltd now owns 389 shares of the company's stock worth $57,000 after purchasing an additional 295 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of SPX Technologies by 18.5% during the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after acquiring an additional 98 shares in the last quarter. Finally, Huntington National Bank boosted its position in shares of SPX Technologies by 17.6% during the 4th 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. 92.82% of the stock is owned by institutional investors.

SPX Technologies Price Performance

NYSE:SPXC traded down $3.13 during trading hours on Monday, hitting $174.72. 167,536 shares of the stock traded hands, compared to its average volume of 271,837. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The stock has a 50 day moving average price of $161.37 and a 200 day moving average price of $147.49. The company has a quick ratio of 1.24, a current ratio of 1.88 and a debt-to-equity ratio of 0.60. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 40.73, a price-to-earnings-growth ratio of 1.56 and a beta of 1.24.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating 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 business had revenue of $482.60 million for the quarter, compared to analysts' expectations of $481.32 million. During the same quarter in the previous year, the business posted $1.25 earnings per share. The business's revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. B. Riley began coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. Finally, Oppenheimer upped their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $189.60.

Insider Activity at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of the 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.32% of the stock is owned by insiders.

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.