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

Conestoga Capital Advisors LLC grew its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 799,195 shares of the company's stock after purchasing an additional 11,400 shares during the period. SPX Technologies makes up approximately 1.6% of Conestoga Capital Advisors LLC's holdings, making the stock its 26th biggest position. Conestoga Capital Advisors LLC owned 1.71% of SPX Technologies worth $102,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPXC. Vanguard Group Inc. grew its holdings in 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 in the last quarter. Invesco Ltd. boosted its position in SPX Technologies by 3.4% during the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after acquiring an additional 37,468 shares during the period. Janus Henderson Group PLC grew its stake in shares of SPX Technologies by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after purchasing an additional 26,995 shares in the last quarter. FMR LLC increased its holdings in shares of SPX Technologies by 8.5% during the fourth quarter. FMR LLC now owns 718,298 shares of the company's stock valued at $104,527,000 after purchasing an additional 56,175 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of SPX Technologies by 1.7% during the fourth quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company's stock valued at $102,714,000 after purchasing an additional 11,771 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Wall Street Analysts Forecast Growth

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

SPX Technologies Stock Performance

SPXC opened at $154.88 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a market cap of $7.23 billion, a PE ratio of 41.63, a P/E/G ratio of 1.33 and a beta of 1.23. The business has a fifty day simple moving average of $145.79 and a 200-day simple moving average of $145.21. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last released 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. The business had revenue of $482.60 million during the quarter, compared to analyst estimates of $481.32 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. SPX Technologies's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. As a group, equities analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal 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 that occurred on 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.32% of the stock is owned by 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.

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