Segall Bryant & Hamill LLC Reduces Stake in SPX Technologies, Inc. (NYSE:SPXC)

Segall Bryant & Hamill LLC cut its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 35.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,388 shares of the company's stock after selling 16,908 shares during the period. Segall Bryant & Hamill LLC owned 0.06% of SPX Technologies worth $3,913,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in SPX Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock worth $732,153,000 after buying an additional 89,770 shares in the last quarter. Invesco Ltd. boosted its stake in SPX Technologies by 3.4% in the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after buying an additional 37,468 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in SPX Technologies by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock worth $102,920,000 after buying an additional 11,400 shares in the last quarter. Janus Henderson Group PLC boosted its stake in 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 in the last quarter. Finally, FMR LLC boosted its stake in SPX Technologies by 8.5% in the fourth quarter. FMR LLC now owns 718,298 shares of the company's stock worth $104,527,000 after buying an additional 56,175 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

SPX Technologies stock traded up $0.10 during trading hours on Tuesday, hitting $174.54. 228,448 shares of the stock traded hands, compared to its average volume of 271,666. 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 firm's 50 day moving average price is $161.37 and its 200-day moving average price is $147.49. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 1.53 and a beta of 1.24. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83.

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

Insider Transactions at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction on Thursday, May 29th. The stock was 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 directly owned 33,770 shares in the company, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPXC. B. Riley started 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. Oppenheimer increased their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $160.00 to $182.00 in a report on Monday, June 2nd. 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 MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $189.60.

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.