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

Peregrine Capital Management LLC lifted its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,547 shares of the company's stock after acquiring an additional 2,136 shares during the period. Peregrine Capital Management LLC owned 0.20% of SPX Technologies worth $12,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in SPX Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock valued at $732,153,000 after purchasing an additional 89,770 shares during the period. Invesco Ltd. lifted its holdings in shares of SPX Technologies by 3.4% in the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock valued at $167,462,000 after buying an additional 37,468 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of SPX Technologies by 1.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock valued at $102,920,000 after buying an additional 11,400 shares during the period. Janus Henderson Group PLC boosted its stake in shares of SPX Technologies by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after buying an additional 26,995 shares during the last quarter. Finally, FMR LLC grew its holdings in SPX Technologies by 8.5% during the fourth quarter. FMR LLC now owns 718,298 shares of the company's stock worth $104,527,000 after acquiring an additional 56,175 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the firm'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 value of $1,043,987.23. Following the transaction, the director directly owned 33,770 shares of the company's stock, valued at $5,167,147.70. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.32% of the company's stock.

Analysts Set New Price Targets

SPXC has been the subject of a number of analyst reports. B. Riley started coverage on SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $183.20.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded up $0.48 on Thursday, reaching $173.03. The company's stock had a trading volume of 126,114 shares, compared to its average volume of 273,807. The company has a quick ratio of 1.24, a current ratio of 1.88 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $8.08 billion, a P/E ratio of 40.33, a PEG ratio of 1.49 and a beta of 1.24. The stock has a 50-day moving average price of $153.59 and a 200-day moving average price of $145.26. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted 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 company had revenue of $482.60 million during the quarter, compared to analysts' expectations of $481.32 million. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. Analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.

SPX Technologies 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.