Assenagon Asset Management S.A. Has $5.59 Million Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Assenagon Asset Management S.A. reduced its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 61.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,326 shares of the company's stock after selling 89,801 shares during the period. Assenagon Asset Management S.A. owned 0.12% of SPX Technologies worth $5,588,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in SPX Technologies during the fourth quarter worth about $28,629,000. Artisan Partners Limited Partnership lifted its holdings in shares of SPX Technologies by 74.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 703,026 shares of the company's stock valued at $57,226,000 after buying an additional 301,084 shares during the period. FMR LLC boosted its stake in shares of SPX Technologies by 23.0% in the third quarter. FMR LLC now owns 1,338,942 shares of the company's stock valued at $108,990,000 after buying an additional 250,494 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in SPX Technologies by 11.7% during the third quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company's stock worth $128,583,000 after acquiring an additional 165,544 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in SPX Technologies by 3.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,265,310 shares of the company's stock worth $280,018,000 after acquiring an additional 160,366 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Trading Down 1.2 %

Shares of NYSE SPXC traded down $1.44 on Monday, reaching $121.69. 168,807 shares of the company traded hands, compared to its average volume of 221,044. The company has a 50 day moving average of $111.94 and a 200 day moving average of $96.50. The company has a current ratio of 1.77, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44. SPX Technologies, Inc. has a fifty-two week low of $61.09 and a fifty-two week high of $123.98. The stock has a market capitalization of $5.56 billion, a PE ratio of 63.38, a P/E/G ratio of 1.36 and a beta of 1.25.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, hitting analysts' consensus estimates of $1.25. The company had revenue of $469.40 million for the quarter, compared to the consensus estimate of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. SPX Technologies's revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. On average, equities research analysts forecast that SPX Technologies, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on SPXC. Oppenheimer restated an "outperform" rating and set a $134.00 target price (up from $124.00) on shares of SPX Technologies in a research report on Thursday. UBS Group upped their price objective on shares of SPX Technologies from $90.00 to $126.00 and gave the company a "neutral" rating in a research note on Wednesday, March 27th. Finally, StockNews.com cut shares of SPX Technologies from a "buy" rating to a "hold" rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.00.

Insider Transactions at SPX Technologies

In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction on Friday, March 1st. The shares were sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the transaction, the chief executive officer now owns 597,936 shares in the company, valued at approximately $69,049,649.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $115.48, for a total value of $3,123,503.04. Following the completion of the sale, the chief executive officer now owns 597,936 shares in the company, valued at $69,049,649.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the sale, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,373 shares of company stock worth $10,962,146. 4.02% of the stock is currently owned by company insiders.

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.