SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 413.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,132 shares of the company's stock after purchasing an additional 54,850 shares during the period. Victory Capital Management Inc. owned about 0.15% of SPX Technologies worth $6,882,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Raymond James & Associates raised its stake in shares of SPX Technologies by 133.1% in the third quarter. Raymond James & Associates now owns 9,832 shares of the company's stock valued at $800,000 after acquiring an additional 5,614 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of SPX Technologies by 9.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,612 shares of the company's stock valued at $782,000 after buying an additional 819 shares during the period. Teacher Retirement System of Texas grew its position in shares of SPX Technologies by 17.1% during the third quarter. Teacher Retirement System of Texas now owns 22,646 shares of the company's stock worth $1,843,000 after buying an additional 3,305 shares in the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of SPX Technologies during the third quarter worth approximately $1,424,000. Finally, Assenagon Asset Management S.A. raised its holdings in SPX Technologies by 7.7% in the third quarter. Assenagon Asset Management S.A. now owns 145,127 shares of the company's stock valued at $11,813,000 after acquiring an additional 10,368 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on SPXC shares. StockNews.com cut shares of SPX Technologies from a "buy" rating to a "hold" rating in a report on Saturday. Oppenheimer increased their target price on SPX Technologies from $134.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, May 3rd. UBS Group raised their price target on SPX Technologies from $126.00 to $142.00 and gave the company a "neutral" rating in a research note on Wednesday, May 8th. Finally, William Blair reaffirmed an "outperform" rating on shares of SPX Technologies in a research report on Friday, May 3rd. Two equities 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $141.00.

SPX Technologies Stock Up 0.9 %

Shares of SPX Technologies stock traded up $1.23 during trading hours on Wednesday, hitting $141.63. The company had a trading volume of 174,073 shares, compared to its average volume of 239,432. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.70. The company's 50-day moving average is $122.24 and its two-hundred day moving average is $106.17. The company has a market cap of $6.55 billion, a P/E ratio of 69.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. SPX Technologies, Inc. has a twelve month low of $71.89 and a twelve month high of $142.36.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.19. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The company had revenue of $465.20 million during the quarter, compared to the consensus estimate of $454.05 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. SPX Technologies's revenue for the quarter was up 16.4% on a year-over-year basis. Analysts anticipate that SPX Technologies, Inc. will post 5.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John William Swann III sold 32,325 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 82,884 shares of the company's stock, valued at $9,747,987.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Eugene Joseph Lowe III sold 35,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 667,045 shares in the company, valued at approximately $76,936,970.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the sale, the insider now directly owns 82,884 shares of the company's stock, valued at $9,747,987.24. The disclosure for this sale can be found here. Insiders have sold a total of 94,373 shares of company stock valued at $10,962,146 over the last quarter. Company insiders own 3.53% of the company's stock.

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.