GW&K Investment Management LLC Decreases Stake in SPX Technologies, Inc. (NYSE:SPXC)

GW&K Investment Management LLC trimmed its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 429,102 shares of the company's stock after selling 13,668 shares during the quarter. GW&K Investment Management LLC owned 0.92% of SPX Technologies worth $55,259,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in SPX Technologies by 5.5% in the 4th quarter. HighTower Advisors LLC now owns 7,020 shares of the company's stock valued at $1,022,000 after purchasing an additional 369 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of SPX Technologies by 38.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,869 shares of the company's stock worth $272,000 after acquiring an additional 515 shares during the period. Natixis Advisors LLC grew its stake in shares of SPX Technologies by 10.3% during the 4th quarter. Natixis Advisors LLC now owns 24,468 shares of the company's stock worth $3,561,000 after acquiring an additional 2,276 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake 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 worth $632,000 after acquiring an additional 68 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in SPX Technologies during the 4th quarter worth about $613,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

SPX Technologies Stock Down 0.9%

Shares of NYSE SPXC traded down $1.58 during mid-day trading on Thursday, hitting $174.01. 39,144 shares of the stock traded hands, compared to its average volume of 284,266. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $183.83. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 1.53 and a beta of 1.24. The stock has a fifty day moving average price of $162.57 and a 200-day moving average price of $148.04.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its 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. 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 for the quarter, compared to the consensus estimate of $481.32 million. During the same period in the previous year, the company posted $1.25 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Oppenheimer increased their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the company from $160.00 to $182.00 in a research report on Monday, June 2nd. Finally, 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 on the stock. 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 company has a consensus rating of "Buy" and an average target price of $189.60.

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.