Yarbrough Capital LLC Boosts Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Yarbrough Capital LLC grew its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 34.3% during the first quarter, according to its most recent disclosure 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 period. Yarbrough Capital LLC's holdings in SPX Technologies were worth $1,223,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC increased its stake in shares of SPX Technologies by 1.0% in the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company's stock worth $1,007,000 after buying an additional 68 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of SPX Technologies by 1.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock worth $632,000 after buying an additional 68 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of SPX Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,383 shares of the company's stock worth $201,000 after buying an additional 73 shares during the last quarter. Bank of Montreal Can increased its stake in shares of SPX Technologies by 1.3% in the fourth quarter. Bank of Montreal Can now owns 6,316 shares of the company's stock worth $919,000 after buying an additional 78 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of SPX Technologies by 2.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company's stock worth $493,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Trading Up 0.9%

NYSE SPXC opened at $157.57 on Friday. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83. The company has a 50-day simple moving average of $141.74 and a 200-day simple moving average of $146.17. 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 capitalization of $7.36 billion, a PE ratio of 42.36, 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 quarterly earnings results on Thursday, May 1st. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.16 by $0.22. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $482.60 million during the quarter, compared to analyst estimates of $481.32 million. During the same period in the previous year, the business posted $1.25 EPS. The company's quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of research analyst reports. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. B. Riley initiated coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $160.00 to $182.00 in a research note on Monday, June 2nd. Finally, Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $183.20.

Insider Activity

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 33,770 shares of the company's stock, 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 SEC, which is available at this hyperlink. Company insiders own 3.32% of the company's stock.

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.

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