Janney Montgomery Scott LLC Sells 1,862 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Janney Montgomery Scott LLC reduced its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 34.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,545 shares of the company's stock after selling 1,862 shares during the period. Janney Montgomery Scott LLC's holdings in SPX Technologies were worth $457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of SPX Technologies during the first quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after purchasing an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Covestor Ltd grew its holdings in shares of SPX Technologies by 313.8% in the fourth quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after purchasing an additional 295 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock valued at $83,000 after purchasing an additional 98 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SPX Technologies 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 sale, the director owned 33,770 shares in the company, valued at approximately $5,167,147.70. The trade was a 16.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.32% of the company's stock.

SPX Technologies Stock Performance

Shares of SPXC traded down $3.50 during midday trading on Monday, hitting $169.53. 262,403 shares of the stock traded hands, compared to its average volume of 275,014. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83. The firm has a market capitalization of $7.92 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 1.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88. The business's 50 day moving average price is $155.90 and its two-hundred day moving average price is $145.71.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.22. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. The company had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same quarter 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. Equities research analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPXC shares. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $160.00 to $182.00 in a report on Monday, June 2nd. B. Riley assumed coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $183.20.

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.