Victory Capital Management Inc. Has $23.19 Million Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Victory Capital Management Inc. reduced its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 180,099 shares of the company's stock after selling 13,884 shares during the quarter. Victory Capital Management Inc. owned approximately 0.38% of SPX Technologies worth $23,193,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SPXC. HighTower Advisors LLC lifted its position in SPX Technologies by 5.5% in the 4th quarter. HighTower Advisors LLC now owns 7,020 shares of the company's stock valued at $1,022,000 after purchasing an additional 369 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in SPX Technologies by 38.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,869 shares of the company's stock valued at $272,000 after purchasing an additional 515 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in SPX Technologies by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock valued at $632,000 after purchasing an additional 68 shares during the last quarter. Signaturefd LLC lifted its position in SPX Technologies by 15.9% in the 4th quarter. Signaturefd LLC now owns 628 shares of the company's stock valued at $91,000 after purchasing an additional 86 shares during the last quarter. Finally, Xponance Inc. lifted its position in SPX Technologies by 12.0% in the 4th quarter. Xponance Inc. now owns 3,309 shares of the company's stock valued at $482,000 after purchasing an additional 355 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

Insider Activity at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of the business's 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 sale, the director directly owned 33,770 shares in the company, valued at $5,167,147.70. The trade was a 16.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.32% of the stock is owned by insiders.

SPX Technologies Price Performance

Shares of SPXC stock traded up $5.57 during midday trading on Friday, reaching $180.98. 315,923 shares of the company were exchanged, compared to its average volume of 258,247. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $183.83. The company has a market cap of $8.45 billion, a P/E ratio of 42.19, a PEG ratio of 1.54 and a beta of 1.24. The company's 50 day moving average price is $163.48 and its two-hundred day moving average price is $148.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.22. The company had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. SPX Technologies's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. On average, sell-side analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SPXC. B. Riley began coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $160.00 to $182.00 in a research report on Monday, June 2nd. Finally, Oppenheimer boosted their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $189.60.

SPX Technologies Company 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.