Driehaus Capital Management LLC Sells 48,908 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Driehaus Capital Management LLC trimmed its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 267,251 shares of the company's stock after selling 48,908 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.58% of SPX Technologies worth $38,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Allworth Financial LP grew its holdings in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after buying an additional 90 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of SPX Technologies during the fourth quarter valued at approximately $27,000. Skandinaviska Enskilda Banken AB publ increased its stake in SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after buying an additional 185 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the period. Finally, Spire Wealth Management acquired a new stake in SPX Technologies during the fourth quarter worth about $57,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Wednesday, February 26th.

SPX Technologies Trading Down 1.3%

SPXC stock traded down $2.01 during midday trading on Wednesday, hitting $155.05. The stock had a trading volume of 46,989 shares, compared to its average volume of 276,998. The firm has a market cap of $7.24 billion, a PE ratio of 41.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company's 50-day moving average price is $134.68 and its 200 day moving average price is $147.01. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $482.60 million for the quarter, compared to analysts' expectations of $481.32 million. During the same period in the prior year, the business posted $1.25 earnings per share. The business's revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.