Knights of Columbus Asset Advisors LLC Increases Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Knights of Columbus Asset Advisors LLC increased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 240.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,531 shares of the company's stock after buying an additional 42,039 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.13% of SPX Technologies worth $6,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPXC. Point72 Asset Management L.P. purchased a new position in SPX Technologies in the 2nd quarter valued at $34,000. Quarry LP purchased a new position in SPX Technologies in the 2nd quarter valued at $44,000. Lazard Asset Management LLC purchased a new position in SPX Technologies in the 2nd quarter valued at $59,000. Fairfield Bush & CO. purchased a new position in SPX Technologies in the 1st quarter valued at $35,000. Finally, Point72 Middle East FZE purchased a new position in SPX Technologies in the 4th quarter valued at $73,000. 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 during midday trading on Friday, reaching $116.23. 337,234 shares of the company's stock were exchanged, compared to its average volume of 234,115. The firm's 50 day simple moving average is $116.29 and its two-hundred day simple moving average is $99.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.08. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 61.42, a P/E/G ratio of 1.30 and a beta of 1.25. SPX Technologies, Inc. has a fifty-two week low of $61.09 and a fifty-two week high of $124.81.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, meeting the consensus estimate of $1.25. The company had revenue of $469.40 million during the quarter, compared to the consensus estimate of $481.98 million. SPX Technologies had a return on equity of 17.30% and a net margin of 5.16%. SPX Technologies's revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group lifted their price target on SPX Technologies from $90.00 to $126.00 and gave the stock a "neutral" rating in a report on Wednesday, March 27th. StockNews.com lowered SPX Technologies from a "buy" rating to a "hold" rating in a report on Friday, March 15th. Finally, Oppenheimer reiterated an "outperform" rating and set a $134.00 price target (up previously from $124.00) on shares of SPX Technologies in a report on Thursday, March 28th.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, 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 completion of the transaction, the insider now directly owns 82,884 shares of the company's stock, valued at approximately $9,747,987.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, 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 completion of the transaction, the insider now owns 82,884 shares in the company, valued at approximately $9,747,987.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of SPX Technologies stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the transaction, the chief executive officer now owns 667,045 shares of the company's stock, valued at approximately $76,936,970.30. The disclosure for this sale can be found here. Insiders sold a total of 94,373 shares of company stock valued at $10,962,146 in the last three months. 3.53% of the stock is owned by corporate insiders.

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.