SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 11.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 301,726 shares of the company's stock after selling 40,743 shares during the quarter. Bank of New York Mellon Corp owned about 0.65% of SPX Technologies worth $38,856,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of SPX Technologies by 1.8% in the 4th 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 during the period. Invesco Ltd. raised its position 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 worth $167,462,000 after buying an additional 37,468 shares during the period. Conestoga Capital Advisors LLC raised its position 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 worth $102,920,000 after buying an additional 11,400 shares during the period. Janus Henderson Group PLC raised its position in shares of SPX Technologies by 3.9% in the 4th 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 period. Finally, FMR LLC raised its position in shares of SPX Technologies by 8.5% in the 4th quarter. FMR LLC now owns 718,298 shares of the company's stock worth $104,527,000 after buying an additional 56,175 shares during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

Insider Activity

In other news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies 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 sale, the director directly owned 33,770 shares of the company's stock, valued at approximately $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.32% of the company's stock.

Analysts Set New Price Targets

SPXC has been the topic of several research reports. B. Riley initiated coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price on the stock. Oppenheimer increased their target price on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, UBS Group raised SPX Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $160.00 to $182.00 in a research report on Monday, June 2nd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $189.60.

SPX Technologies Stock Down 1.4%

NYSE:SPXC traded down $2.45 during mid-day trading on Friday, hitting $177.67. The company had a trading volume of 108,721 shares, compared to its average volume of 272,795. The business has a fifty day simple moving average of $160.79 and a 200-day simple moving average of $147.24. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 1.54 and a beta of 1.24.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.38 EPS for the quarter, beating the consensus estimate 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 period last year, the company posted $1.25 earnings per share. The firm's revenue was up 3.7% compared to the same quarter last year. Equities analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.