SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 960.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,486 shares of the company's stock after acquiring an additional 23,988 shares during the period. Millennium Management LLC owned 0.06% of SPX Technologies worth $3,854,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after acquiring an additional 90 shares during the period. Empowered Funds LLC purchased a new stake in SPX Technologies in the 4th quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of SPX Technologies by 2,055.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after acquiring an additional 185 shares during the period. Finally, Covestor Ltd grew its holdings in SPX Technologies by 313.8% during the fourth quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after purchasing an additional 295 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

SPX Technologies Stock Performance

Shares of SPXC stock traded up $3.21 during mid-day trading on Tuesday, reaching $158.29. 234,552 shares of the company's stock traded hands, compared to its average volume of 278,764. The firm has a market capitalization of $7.39 billion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a 50 day moving average price of $140.15 and a two-hundred day moving average price of $146.37. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $183.83.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on SPXC shares. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a report on Wednesday, February 26th. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $160.00 to $182.00 in a research report on Monday. Finally, B. Riley began coverage on SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 target price 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's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $183.20.

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.