SG Americas Securities LLC Invests $843,000 in SPX Technologies, Inc. (NYSE:SPXC)

SG Americas Securities LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,545 shares of the company's stock, valued at approximately $843,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC increased its position in shares of SPX Technologies by 1.0% during the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company's stock worth $1,007,000 after purchasing an additional 68 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of SPX Technologies by 1.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock worth $632,000 after purchasing an additional 68 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of SPX Technologies by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,383 shares of the company's stock worth $201,000 after purchasing an additional 73 shares in the last quarter. Bank of Montreal Can increased its position in shares of SPX Technologies by 1.3% during the fourth quarter. Bank of Montreal Can now owns 6,316 shares of the company's stock worth $919,000 after purchasing an additional 78 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of SPX Technologies by 1.9% during the first quarter. Park Avenue Securities LLC now owns 4,497 shares of the company's stock worth $579,000 after purchasing an additional 83 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. UBS Group upgraded SPX Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the company 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 on the stock. Finally, Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, SPX Technologies currently has a consensus rating of "Buy" and a consensus price target of $183.20.

SPX Technologies Stock Performance

SPXC traded up $3.79 during trading on Monday, reaching $158.21. The company's stock had a trading volume of 147,993 shares, compared to its average volume of 274,864. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83. The company's fifty day moving average price is $147.59 and its 200-day moving average price is $144.67. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 1.36 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88.

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, beating analysts' consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.67% and a net margin of 10.13%. The company had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same quarter in the previous year, the company earned $1.25 EPS. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Insider Buying and Selling at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 33,770 shares in the company, valued at $5,167,147.70. This represents a 16.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.32% of the stock is owned by corporate insiders.

SPX Technologies Company 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.