Conestoga Capital Advisors LLC Grows Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Conestoga Capital Advisors LLC raised its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 799,195 shares of the company's stock after buying an additional 11,400 shares during the quarter. SPX Technologies makes up approximately 1.6% of Conestoga Capital Advisors LLC's portfolio, making the stock its 26th biggest position. Conestoga Capital Advisors LLC owned approximately 1.71% of SPX Technologies worth $102,920,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Allworth Financial LP increased its holdings in shares of SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after acquiring an additional 90 shares during the period. Empowered Funds LLC purchased a new position in SPX Technologies during the 4th quarter worth $27,000. NBC Securities Inc. acquired a new position in SPX Technologies in the first quarter valued at $27,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after buying an additional 185 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of 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 buying an additional 151 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the business'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 transaction of $1,043,987.23. Following the sale, the director now owns 33,770 shares of the company's stock, valued at $5,167,147.70. The trade was a 16.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.32% of the company's stock.

SPX Technologies Stock Performance

NYSE SPXC traded down $1.34 on Friday, hitting $154.69. 342,013 shares of the company's stock were exchanged, compared to its average volume of 289,724. 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 $147.13 and its two-hundred day moving average price is $145.21. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $183.83. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of 1.37 and a beta of 1.23.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. During the same period in the previous year, the business earned $1.25 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.

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.