Allspring Global Investments Holdings LLC Sells 195,962 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Allspring Global Investments Holdings LLC decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 40.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,055 shares of the company's stock after selling 195,962 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.63% of SPX Technologies worth $28,894,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in SPX Technologies during the 2nd quarter worth $34,000. Fairfield Bush & CO. bought a new position in SPX Technologies during the 1st quarter worth $35,000. Quarry LP bought a new position in shares of SPX Technologies in the second quarter worth $44,000. Lazard Asset Management LLC bought a new position in shares of SPX Technologies in the second quarter worth $59,000. Finally, Point72 Middle East FZE bought a new position in shares of SPX Technologies in the fourth quarter worth $73,000. Institutional investors and hedge funds own 92.82% of the company's stock.

Insider Activity

In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the completion of the sale, the chief executive officer now owns 667,045 shares in the company, valued at $76,936,970.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Eugene Joseph Lowe III sold 35,000 shares of the company's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the completion of the sale, the chief executive officer now owns 667,045 shares in the company, valued at $76,936,970.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John William Swann III sold 32,325 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Insiders sold a total of 94,373 shares of company stock worth $10,962,146 over the last quarter. 4.02% of the stock is currently owned by corporate insiders.

SPX Technologies Trading Down 2.8 %

SPXC traded down $3.53 during trading on Friday, hitting $120.76. The company's stock had a trading volume of 314,227 shares, compared to its average volume of 265,197. SPX Technologies, Inc. has a twelve month low of $61.09 and a twelve month high of $124.81. The company has a quick ratio of 1.08, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. The stock's fifty day moving average price is $115.23 and its 200-day moving average price is $99.12. The firm has a market capitalization of $5.59 billion, a P/E ratio of 62.90, a PEG ratio of 1.33 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

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

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.