Yarbrough Capital LLC Buys 2,423 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Yarbrough Capital LLC raised its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 34.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,495 shares of the company's stock after purchasing an additional 2,423 shares during the quarter. Yarbrough Capital LLC's holdings in SPX Technologies were worth $1,223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in SPX Technologies during the fourth quarter valued at approximately $93,038,000. Raymond James Financial Inc. purchased a new position in shares of SPX Technologies during the 4th quarter worth $32,337,000. First Trust Advisors LP grew its position in shares of SPX Technologies by 54.5% during the 4th quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock valued at $80,519,000 after acquiring an additional 195,153 shares during the period. Franklin Resources Inc. increased its stake in shares of SPX Technologies by 1,260.7% in the 4th quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock worth $24,813,000 after purchasing an additional 157,981 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of SPX Technologies by 25,946.4% in the 1st quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock worth $17,845,000 after purchasing an additional 138,035 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

Shares of SPXC stock traded down $2.42 during mid-day trading on Wednesday, hitting $160.80. The company had a trading volume of 242,999 shares, compared to its average volume of 294,612. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The stock's 50 day moving average price is $142.94 and its 200-day moving average price is $145.99. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83. The company has a market capitalization of $7.51 billion, a P/E ratio of 43.23, a P/E/G ratio of 1.33 and a beta of 1.23.

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 the consensus estimate of $1.16 by $0.22. The business had revenue of $482.60 million during the quarter, compared to analysts' expectations of $481.32 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. B. Riley started coverage on SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 price target for the company. Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research report on Wednesday, February 26th. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $160.00 to $182.00 in a report on Monday, June 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to 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 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 directly owns 33,770 shares in the company, valued at approximately $5,167,147.70. This represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.32% of the company's stock.

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.