Segall Bryant & Hamill LLC Sells 16,908 Shares of SPX Technologies, Inc. (NYSE:SPXC)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in SPX Technologies during the fourth quarter valued at $93,038,000. Raymond James Financial Inc. acquired a new stake in SPX Technologies during the fourth quarter valued at $32,337,000. First Trust Advisors LP boosted its position in SPX Technologies by 54.5% during the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock valued at $80,519,000 after purchasing an additional 195,153 shares during the last quarter. Franklin Resources Inc. boosted its position in SPX Technologies by 1,260.7% during the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock valued at $24,813,000 after purchasing an additional 157,981 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in SPX Technologies by 25,946.4% during the first quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock valued at $17,845,000 after purchasing an additional 138,035 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group raised SPX Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $160.00 to $182.00 in a research report on Monday, June 2nd. B. Riley assumed coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. Finally, Oppenheimer boosted their price target on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $189.60.

SPX Technologies Price Performance

NYSE SPXC traded down $2.33 during trading on Friday, reaching $177.79. 389,640 shares of the company traded hands, compared to its average volume of 272,255. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88. The stock's 50 day moving average price is $161.37 and its two-hundred day moving average price is $147.48. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 41.44, a P/E/G ratio of 1.56 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 announced its earnings results on Thursday, May 1st. The company reported $1.38 EPS 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 the consensus estimate of $481.32 million. SPX Technologies had a return on equity of 19.67% and a net margin of 10.13%. SPX Technologies's revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Insider Activity at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the completion of the transaction, the director owned 33,770 shares in the company, valued at approximately $5,167,147.70. This represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.32% of the stock is currently owned by corporate insiders.

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.