Greenwood Capital Associates LLC Sells 2,077 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Greenwood Capital Associates LLC trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 42.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,813 shares of the company's stock after selling 2,077 shares during the period. Greenwood Capital Associates LLC's holdings in SPX Technologies were worth $362,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SPXC. Allworth Financial LP raised its stake in SPX Technologies by 123.3% in the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after buying an additional 90 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of SPX Technologies during the fourth quarter worth about $27,000. NBC Securities Inc. purchased a new position in shares of SPX Technologies during the first quarter worth about $27,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after buying an additional 185 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock valued at $29,000 after purchasing an additional 151 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the business's 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 transaction, the director now directly owns 33,770 shares in the company, valued at $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SPXC. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. B. Riley initiated coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They set a "buy" rating and a $195.00 price objective for the company. Finally, UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, SPX Technologies has a consensus rating of "Buy" and a consensus price target of $183.20.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded up $0.43 on Monday, hitting $154.88. The company had a trading volume of 207,214 shares, compared to its average volume of 279,344. The business has a 50-day simple moving average of $145.79 and a 200-day simple moving average of $145.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The company has a market cap of $7.23 billion, a PE ratio of 41.63, a PEG ratio of 1.33 and a beta of 1.23. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results 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 net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The firm's quarterly revenue was up 3.7% on a year-over-year basis. Research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

About SPX Technologies

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.