Brown Advisory Inc. Lowers Stake in SPX Technologies, Inc. (NYSE:SPXC)

Brown Advisory Inc. reduced its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 374,476 shares of the company's stock after selling 19,880 shares during the period. Brown Advisory Inc. owned 0.81% of SPX Technologies worth $54,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $93,038,000. Raymond James Financial Inc. purchased a new stake in shares of SPX Technologies during the 4th quarter valued at $32,337,000. First Trust Advisors LP boosted its position in shares of SPX Technologies by 54.5% in the 4th quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after purchasing an additional 195,153 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in SPX Technologies by 25.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after buying an additional 160,535 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in SPX Technologies by 1,260.7% in the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock valued at $24,813,000 after buying an additional 157,981 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Performance

Shares of SPX Technologies stock traded down $0.51 on Friday, reaching $148.85. 198,734 shares of the stock were exchanged, compared to its average volume of 277,717. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $183.83. The business has a 50 day moving average price of $134.04 and a two-hundred day moving average price of $147.03. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.16 by $0.22. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. During the same period in the prior year, the firm earned $1.25 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. Analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Wednesday, February 26th. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, SPX Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $174.75.

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.