Peregrine Capital Management LLC Buys 2,136 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Peregrine Capital Management LLC grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 2.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,547 shares of the company's stock after acquiring an additional 2,136 shares during the period. Peregrine Capital Management LLC owned about 0.20% of SPX Technologies worth $12,176,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Diversified Trust Co raised its stake in shares of SPX Technologies by 83.9% during the 1st quarter. Diversified Trust Co now owns 14,467 shares of the company's stock worth $1,863,000 after acquiring an additional 6,599 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of SPX Technologies by 1,544.0% in the first quarter. Bessemer Group Inc. now owns 6,757 shares of the company's stock worth $870,000 after buying an additional 6,346 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of SPX Technologies by 9.4% in the first quarter. Oppenheimer & Co. Inc. now owns 5,297 shares of the company's stock worth $682,000 after buying an additional 457 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of SPX Technologies by 5.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,490 shares of the company's stock worth $578,000 after buying an additional 221 shares during the period. Finally, Conestoga Capital Advisors LLC grew its stake in SPX Technologies by 1.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock valued at $102,920,000 after purchasing an additional 11,400 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Trading Up 0.6%

Shares of SPX Technologies stock opened at $167.48 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.88 and a quick ratio of 1.24. The company has a market capitalization of $7.82 billion, a P/E ratio of 39.04, a P/E/G ratio of 1.47 and a beta of 1.23. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The business has a 50 day moving average price of $151.00 and a 200 day moving average price of $144.81.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.22. The business had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. The company's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. Sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on SPXC shares. B. Riley initiated coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They set a "buy" rating and a $195.00 price target on the stock. UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $160.00 to $182.00 in a report on Monday, June 2nd. Four equities research analysts have rated the stock with a buy rating and one has assigned 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.

Insider Buying and Selling

In related news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction dated 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 sale, the director now directly owns 33,770 shares in the company, valued at $5,167,147.70. This trade represents a 16.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.32% of the company's stock.

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.

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