Brown Advisory Inc. Has $44 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Brown Advisory Inc. grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 416.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 435,596 shares of the company's stock after purchasing an additional 351,289 shares during the period. Brown Advisory Inc. owned about 0.95% of SPX Technologies worth $44,000,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SPXC. Artisan Partners Limited Partnership boosted its position in shares of SPX Technologies by 74.9% in the third quarter. Artisan Partners Limited Partnership now owns 703,026 shares of the company's stock worth $57,226,000 after buying an additional 301,084 shares during the period. FMR LLC grew its position in SPX Technologies by 23.0% during the third quarter. FMR LLC now owns 1,338,942 shares of the company's stock valued at $108,990,000 after purchasing an additional 250,494 shares in the last quarter. Ameriprise Financial Inc. lifted its position in SPX Technologies by 11.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company's stock worth $128,583,000 after buying an additional 165,544 shares in the last quarter. Robeco Schweiz AG acquired a new stake in shares of SPX Technologies during the 3rd quarter valued at $10,977,000. Finally, New York State Common Retirement Fund increased its stake in shares of SPX Technologies by 21.2% in the third quarter. New York State Common Retirement Fund now owns 430,537 shares of the company's stock worth $35,046,000 after acquiring an additional 75,192 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Insiders Place Their Bets

In other SPX Technologies news, 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 value of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares of the company's stock, valued at approximately $9,747,987.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the sale, the chief executive officer now directly owns 597,936 shares in the company, valued at approximately $69,049,649.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the sale, 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 have sold 94,373 shares of company stock worth $10,962,146 in the last ninety days. Insiders own 3.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on SPXC. William Blair restated an "outperform" rating on shares of SPX Technologies in a research note on Friday, May 3rd. UBS Group boosted their target price on shares of SPX Technologies from $126.00 to $142.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 8th. StockNews.com lowered shares of SPX Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 11th. Finally, Oppenheimer raised 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. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $141.00.

SPX Technologies Stock Performance

Shares of SPX Technologies stock traded up $1.04 on Friday, reaching $140.12. The stock had a trading volume of 162,661 shares, compared to its average volume of 260,671. SPX Technologies, Inc. has a fifty-two week low of $75.54 and a fifty-two week high of $142.36. The business's 50-day moving average price is $123.72 and its two-hundred day moving average price is $107.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 1.12. The stock has a market cap of $6.48 billion, a P/E ratio of 68.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.19. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The company had revenue of $465.20 million during the quarter, compared to analyst estimates of $454.05 million. During the same period in the previous year, the company earned $0.93 earnings per share. The company's quarterly revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts forecast that SPX Technologies, Inc. will post 5.36 EPS for the current year.

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.