Invesco Ltd. Sells 204,286 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Invesco Ltd. decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 17.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 946,495 shares of the company's stock after selling 204,286 shares during the period. Invesco Ltd. owned approximately 2.03% of SPX Technologies worth $121,890,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SPXC. NBC Securities Inc. bought a new stake in SPX Technologies during the first quarter worth about $27,000. Eastern Bank bought a new stake in SPX Technologies during the first quarter worth about $38,000. Skandinaviska Enskilda Banken AB publ lifted its stake in SPX Technologies by 211.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock worth $78,000 after purchasing an additional 410 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in SPX Technologies by 18.5% during the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after purchasing an additional 98 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in SPX Technologies by 28.2% during the first quarter. Signaturefd LLC now owns 805 shares of the company's stock worth $104,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

Insider Transactions at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of the business's stock in a transaction dated 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 owned 33,770 shares in the company, valued at $5,167,147.70. The trade was a 16.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on SPXC shares. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer lifted their price target on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. B. Riley initiated coverage on SPX Technologies in a research note on Thursday, May 15th. They set a "buy" rating and a $195.00 price target for the company. Finally, UBS Group boosted their target price on SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SPX Technologies has a consensus rating of "Buy" and a consensus price target of $195.20.

SPX Technologies Trading Down 2.7%

NYSE SPXC opened at $186.72 on Friday. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $209.38. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $174.54 and a 200-day moving average of $152.93. The firm has a market cap of $8.73 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%. The company had revenue of $552.40 million during the quarter, compared to analyst estimates of $546.03 million. During the same quarter in the previous year, the company posted $1.42 EPS. SPX Technologies's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current year.

About SPX Technologies

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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