SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 23.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,351 shares of the company's stock after acquiring an additional 1,764 shares during the period. Harbor Capital Advisors Inc.'s holdings in SPX Technologies were worth $1,204,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SPXC. Venturi Wealth Management LLC purchased a new stake in SPX Technologies in the fourth quarter valued at approximately $331,000. Comerica Bank boosted its position in SPX Technologies by 25.4% in the fourth quarter. Comerica Bank now owns 86,267 shares of the company's stock valued at $12,554,000 after buying an additional 17,472 shares during the last quarter. Arizona State Retirement System boosted its position in SPX Technologies by 0.9% in the fourth quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock valued at $1,955,000 after buying an additional 123 shares during the last quarter. Empowered Funds LLC purchased a new stake in SPX Technologies in the fourth quarter valued at approximately $27,000. Finally, Hsbc Holdings PLC boosted its position in SPX Technologies by 61.4% in the fourth quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock valued at $1,620,000 after buying an additional 4,229 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Insider Activity

In other news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the transaction, the director now owns 33,770 shares in the company, valued at $5,167,147.70. This trade represents a 16.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.32% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SPXC. UBS Group upgraded 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 report on Monday, June 2nd. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research report on Wednesday, February 26th. Finally, B. Riley started coverage on SPX Technologies in a research report on Thursday, May 15th. They issued 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $183.20.

SPX Technologies Stock Performance

SPX Technologies stock traded up $0.43 during mid-day trading on Monday, hitting $154.88. The company had a trading volume of 207,214 shares, compared to its average volume of 279,344. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83. The company's fifty day moving average is $145.79 and its 200-day moving average is $145.21. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 41.63, a P/E/G ratio of 1.33 and a beta of 1.23.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same quarter last year, the firm posted $1.25 EPS. The business's revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

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.