35,798 Shares in SPX Technologies, Inc. (NYSE:SPXC) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 35,798 shares of the company's stock, valued at approximately $5,209,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.08% of SPX Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in SPX Technologies during the fourth quarter valued at $93,038,000. Raymond James Financial Inc. bought a new stake in shares of SPX Technologies in the fourth quarter worth about $32,337,000. First Trust Advisors LP boosted its stake in SPX Technologies by 54.5% during the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock valued at $80,519,000 after buying an additional 195,153 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in SPX Technologies by 25.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock worth $114,640,000 after acquiring an additional 160,535 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of SPX Technologies by 1,260.7% in the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock valued at $24,813,000 after purchasing an additional 157,981 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Insider Activity

In related 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 transaction of $1,043,987.23. Following the completion of the sale, the director now owns 33,770 shares of the company's stock, valued at $5,167,147.70. This represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.32% of the company's stock.

Analysts Set New Price Targets

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

SPX Technologies Stock Down 0.9%

SPX Technologies stock traded down $1.42 during mid-day trading on Wednesday, reaching $156.60. 134,573 shares of the company were exchanged, compared to its average volume of 278,648. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market cap of $7.31 billion, a P/E ratio of 42.10, a PEG ratio of 1.33 and a beta of 1.21. The business has a fifty day moving average of $140.69 and a 200 day moving average of $146.44. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $481.32 million. During the same period in the prior year, the business posted $1.25 EPS. The firm's quarterly revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal 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.