UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 11,824 Shares of SPX Technologies, Inc. (NYSE:SPXC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,776 shares of the company's stock after selling 11,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.41% of SPX Technologies worth $27,471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPXC. Barclays PLC lifted its stake in shares of SPX Technologies by 299.0% in the 3rd quarter. Barclays PLC now owns 84,567 shares of the company's stock valued at $13,485,000 after acquiring an additional 63,373 shares during the last quarter. Janney Montgomery Scott LLC raised its position in SPX Technologies by 26.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,407 shares of the company's stock valued at $787,000 after purchasing an additional 1,137 shares during the last quarter. KBC Group NV raised its position in SPX Technologies by 2,109.8% during the 4th quarter. KBC Group NV now owns 28,617 shares of the company's stock valued at $4,164,000 after purchasing an additional 27,322 shares during the last quarter. Pacer Advisors Inc. raised its position in SPX Technologies by 28.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,083 shares of the company's stock valued at $158,000 after purchasing an additional 238 shares during the last quarter. Finally, Spire Wealth Management bought a new position in SPX Technologies during the 4th quarter valued at approximately $57,000. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Down 0.4%

Shares of SPXC stock traded down $0.55 during midday trading on Friday, reaching $152.20. 229,096 shares of the stock were exchanged, compared to its average volume of 278,943. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The company's 50 day moving average is $139.29 and its two-hundred day moving average is $146.46. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a market cap of $7.11 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. During the same quarter in the prior year, the business earned $1.25 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analyst Ratings Changes

SPXC has been the subject of a number of recent analyst reports. 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 research report on Wednesday, February 26th. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, 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 target for the company. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $178.80.

Insider Buying and Selling

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 filing with the SEC, which is available at this hyperlink. 3.32% of the stock is currently owned by company insiders.

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.