Peregrine Capital Management LLC Has $13.76 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Peregrine Capital Management LLC reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,242 shares of the company's stock after selling 41,068 shares during the period. Peregrine Capital Management LLC owned 0.30% of SPX Technologies worth $13,762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in SPX Technologies in the second quarter worth $34,000. Quarry LP bought a new stake in SPX Technologies in the second quarter worth $44,000. Lazard Asset Management LLC bought a new stake in SPX Technologies in the second quarter worth $59,000. Fairfield Bush & CO. bought a new stake in SPX Technologies in the first quarter worth $35,000. Finally, Point72 Middle East FZE bought a new stake in SPX Technologies in the fourth quarter worth $73,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider John William Swann III sold 32,325 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares of the company's stock, valued at $9,747,987.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 27,048 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 597,936 shares of the company's stock, valued at $69,049,649.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John William Swann III sold 32,325 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total transaction 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. Insiders sold 94,373 shares of company stock valued at $10,962,146 over the last quarter. Corporate insiders own 4.02% of the company's stock.

SPX Technologies Stock Performance

Shares of SPXC traded up $1.05 during trading hours on Tuesday, reaching $122.34. 326,985 shares of the company traded hands, compared to its average volume of 231,456. The stock's fifty day moving average is $113.72 and its 200 day moving average is $97.93. The stock has a market cap of $5.66 billion, a P/E ratio of 63.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.77. SPX Technologies, Inc. has a 1-year low of $61.09 and a 1-year high of $124.81.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 EPS for the quarter, meeting analysts' consensus estimates of $1.25. The business had revenue of $469.40 million during the quarter, compared to analyst estimates of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of SPX Technologies from a "buy" rating to a "hold" rating in a report on Friday, March 15th. Oppenheimer restated an "outperform" rating and set a $134.00 price target (up from $124.00) on shares of SPX Technologies in a report on Thursday, March 28th. Finally, UBS Group upped their price target on shares of SPX Technologies from $90.00 to $126.00 and gave the company a "neutral" rating in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.00.

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.