Nuveen LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 689,954 shares of the company's stock, valued at approximately $88,852,000. Nuveen LLC owned about 1.48% of SPX Technologies at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in shares of SPX Technologies in the 1st quarter valued at about $27,000. Eastern Bank acquired a new position in shares of SPX Technologies in the 1st quarter valued at about $38,000. Covestor Ltd lifted its holdings in shares of SPX Technologies by 313.8% in the 4th quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after buying an additional 295 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of SPX Technologies by 211.3% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock valued at $78,000 after buying an additional 410 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of SPX Technologies by 18.5% in the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock valued at $83,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on SPXC shares. Wall Street Zen raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group raised their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. B. Riley initiated coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective for the company. Finally, Oppenheimer upped their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, SPX Technologies has an average rating of "Buy" and a consensus price target of $195.20.
Check Out Our Latest Research Report on SPX Technologies
Insiders Place Their Bets
In related news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total value of $1,043,987.23. Following the transaction, the director directly owned 33,770 shares in the company, valued at $5,167,147.70. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.32% of the stock is currently owned by company insiders.
SPX Technologies Stock Performance
NYSE:SPXC traded down $0.40 during midday trading on Friday, reaching $186.16. The stock had a trading volume of 1,037,470 shares, compared to its average volume of 322,111. The firm has a fifty day simple moving average of $175.11 and a two-hundred day simple moving average of $153.21. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $209.38. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. The stock has a market cap of $8.70 billion, a P/E ratio of 41.83, a P/E/G ratio of 1.63 and a beta of 1.27.
SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data 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 net margin of 10.27% and a return on equity of 19.59%. The firm had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. During the same period last year, the firm posted $1.42 EPS. SPX Technologies's quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.
About SPX Technologies
(
Free Report)
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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