AGF Management Ltd. Takes $7.41 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

AGF Management Ltd. acquired a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 73,339 shares of the company's stock, valued at approximately $7,408,000. AGF Management Ltd. owned approximately 0.16% of SPX Technologies at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SPXC. Charles Schwab Investment Management Inc. boosted its holdings in SPX Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 456,819 shares of the company's stock valued at $46,143,000 after acquiring an additional 11,882 shares during the period. Sapient Capital LLC acquired a new stake in SPX Technologies during the fourth quarter worth about $371,000. Natixis Advisors L.P. increased its stake in SPX Technologies by 6.6% during the fourth quarter. Natixis Advisors L.P. now owns 16,514 shares of the company's stock valued at $1,668,000 after acquiring an additional 1,021 shares during the period. Victory Capital Management Inc. raised its holdings in SPX Technologies by 413.0% in the 4th quarter. Victory Capital Management Inc. now owns 68,132 shares of the company's stock valued at $6,882,000 after acquiring an additional 54,850 shares in the last quarter. Finally, PYA Waltman Capital LLC bought a new stake in shares of SPX Technologies in the 4th quarter worth approximately $242,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com lowered SPX Technologies from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group raised their price target on shares of SPX Technologies from $126.00 to $142.00 and gave the stock a "neutral" rating in a research note on Wednesday. William Blair reissued an "outperform" rating on shares of SPX Technologies in a report on Friday, May 3rd. Finally, Oppenheimer lifted their price target on shares of SPX Technologies from $134.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $141.00.

SPX Technologies Trading Up 0.9 %

SPX Technologies stock traded up $1.31 during mid-day trading on Friday, hitting $140.46. The stock had a trading volume of 214,265 shares, compared to its average volume of 274,629. The stock has a 50-day simple moving average of $121.23 and a two-hundred day simple moving average of $105.14. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $6.49 billion, a PE ratio of 68.52, a P/E/G ratio of 1.45 and a beta of 1.24. SPX Technologies, Inc. has a 12 month low of $71.60 and a 12 month high of $140.77.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.19. The company had revenue of $465.20 million for the quarter, compared to analyst estimates of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 5.37 EPS for the current year.

Insider Buying and Selling

In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of SPX Technologies 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 transaction, the chief executive officer now directly owns 667,045 shares in the company, valued at approximately $76,936,970.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 value of $4,036,900.00. Following the completion of the sale, the chief executive officer now directly owns 667,045 shares in the company, valued at $76,936,970.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John William Swann III sold 32,325 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,373 shares of company stock worth $10,962,146. 3.53% of the stock is owned by 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.