Park Square Financial Group LLC Acquires New Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Park Square Financial Group LLC purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,184 shares of the company's stock, valued at approximately $318,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPXC. Allworth Financial LP raised its holdings in shares of SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after purchasing an additional 90 shares during the period. Empowered Funds LLC bought a new stake in shares of SPX Technologies in the 4th quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of SPX Technologies by 2,055.6% in the 4th 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of SPX Technologies by 377.5% in the 4th 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 during the period. Finally, Spire Wealth Management bought a new stake in shares of SPX Technologies in the 4th quarter valued at about $57,000. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Performance

Shares of NYSE:SPXC traded down $0.55 on Friday, reaching $152.20. 229,096 shares of the company's stock were exchanged, compared to its average volume of 278,758. The company has a fifty day moving average of $139.29 and a 200-day moving average of $146.60. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $183.83. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 40.91, a PEG ratio of 1.33 and a beta of 1.21. 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 (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, topping analysts' consensus estimates of $1.16 by $0.22. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same quarter in the prior year, the business posted $1.25 EPS. The business's revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPXC has been the topic of a number of research analyst reports. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. B. Riley started coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target on the stock. Finally, Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $178.80.

Insider Buying and Selling

In related news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 33,770 shares of the company's stock, valued at $5,167,147.70. This represents 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 company insiders.

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.