SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Swiss National Bank

Swiss National Bank reduced its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,818 shares of the company's stock after selling 10,200 shares during the period. Swiss National Bank owned about 0.20% of SPX Technologies worth $9,073,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in SPX Technologies by 413.0% during the 4th quarter. Victory Capital Management Inc. now owns 68,132 shares of the company's stock worth $6,882,000 after acquiring an additional 54,850 shares during the last quarter. PYA Waltman Capital LLC bought a new stake in SPX Technologies during the 4th quarter valued at $242,000. Truist Financial Corp purchased a new stake in SPX Technologies during the 4th quarter valued at $631,000. Yousif Capital Management LLC grew its holdings in SPX Technologies by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 23,007 shares of the company's stock worth $2,324,000 after acquiring an additional 393 shares during the last quarter. Finally, MCF Advisors LLC purchased a new position in shares of SPX Technologies in the fourth quarter valued at about $173,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Trading Up 1.0 %

SPX Technologies stock traded up $1.45 during midday trading on Tuesday, reaching $140.45. The stock had a trading volume of 122,659 shares, compared to its average volume of 240,135. SPX Technologies, Inc. has a 52-week low of $71.89 and a 52-week high of $142.36. The company has a fifty day moving average of $121.70 and a 200 day moving average of $105.74. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 68.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.19. The company had revenue of $465.20 million during 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 firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. On average, analysts anticipate that SPX Technologies, Inc. will post 5.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the business's 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 directly owns 82,884 shares in the company, valued at $9,747,987.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 transaction of $3,801,743.25. Following the transaction, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the 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 sale, the chief executive officer now owns 667,045 shares of the company's stock, valued at $76,936,970.30. 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 90 days. Company insiders own 3.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. William Blair reissued an "outperform" rating on shares of SPX Technologies in a research report on Friday, May 3rd. Oppenheimer lifted their price objective on SPX Technologies from $134.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, May 3rd. StockNews.com lowered SPX Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, UBS Group lifted their price target on SPX Technologies from $126.00 to $142.00 and gave the company a "neutral" rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.00.

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.