Level Four Advisory Services LLC Makes New Investment in SPX Technologies, Inc. (NYSE:SPXC)

Level Four Advisory Services LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,037 shares of the company's stock, valued at approximately $610,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Navellier & Associates Inc. boosted its stake in SPX Technologies by 1.4% in the third quarter. Navellier & Associates Inc. now owns 8,814 shares of the company's stock valued at $717,000 after acquiring an additional 125 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of SPX Technologies by 4.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,182 shares of the company's stock valued at $321,000 after buying an additional 132 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of SPX Technologies by 4.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,176 shares of the company's stock valued at $340,000 after buying an additional 170 shares during the last quarter. Arizona State Retirement System increased its holdings in SPX Technologies by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 12,966 shares of the company's stock worth $1,055,000 after acquiring an additional 175 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in SPX Technologies by 5.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 3,458 shares of the company's stock valued at $281,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Insider Transactions at SPX Technologies

In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $115.48, for a total value of $3,123,503.04. Following the completion of the transaction, the chief executive officer now directly owns 597,936 shares in the company, valued at $69,049,649.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John William Swann III sold 32,325 shares of the stock in a transaction on 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 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 through the SEC website. Also, CEO Eugene Joseph Lowe III sold 27,048 shares of the business's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the completion of the sale, the chief executive officer now directly owns 597,936 shares of the company's stock, valued at $69,049,649.28. The disclosure for this sale can be found here. Insiders have sold 94,373 shares of company stock valued at $10,962,146 in the last quarter. Insiders own 3.53% of the company's stock.

SPX Technologies Price Performance

Shares of SPXC traded up $0.45 during mid-day trading on Tuesday, reaching $144.23. 126,702 shares of the stock traded hands, compared to its average volume of 236,634. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. SPX Technologies, Inc. has a 1 year low of $75.54 and a 1 year high of $144.35. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 70.36, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. The firm has a fifty day moving average price of $124.89 and a 200 day moving average price of $108.30.

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

Wall Street Analyst Weigh In

SPXC has been the topic of a number of recent research reports. StockNews.com cut shares of SPX Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 11th. Oppenheimer lifted their price target on SPX Technologies from $134.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, May 3rd. William Blair reiterated an "outperform" rating on shares of SPX Technologies in a research note on Friday, May 3rd. Finally, UBS Group raised their target price on SPX Technologies from $126.00 to $142.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 8th. Two 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 an average rating of "Moderate Buy" and an average target price of $141.00.

SPX Technologies 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.