SPX Technologies, Inc. (NYSE:SPXC) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 27.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,029 shares of the company’s stock after purchasing an additional 31,497 shares during the period. Public Sector Pension Investment Board owned approximately 0.31% of SPX Technologies worth $18,934,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. AlphaCore Capital LLC increased its position in shares of SPX Technologies by 3.4% during the first quarter. AlphaCore Capital LLC now owns 2,068 shares of the company’s stock worth $266,000 after acquiring an additional 68 shares during the period. Bank of Montreal Can increased its position in shares of SPX Technologies by 1.3% during the fourth quarter. Bank of Montreal Can now owns 6,316 shares of the company’s stock worth $919,000 after acquiring an additional 78 shares during the period. Park Avenue Securities LLC increased its holdings in SPX Technologies by 1.9% in the first quarter. Park Avenue Securities LLC now owns 4,497 shares of the company’s stock valued at $579,000 after buying an additional 83 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company’s stock valued at $83,000 after buying an additional 98 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in SPX Technologies by 1.6% in the first quarter. Private Advisor Group LLC now owns 7,034 shares of the company’s stock valued at $906,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Insider Activity

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the transaction, the director owned 33,770 shares of the company’s stock, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Oppenheimer increased their target price on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. UBS Group increased their target price on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 1st. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Finally, B. Riley assumed coverage on SPX Technologies in a report on Thursday, May 15th. They issued a “buy” rating and a $195.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $195.20.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $200.43 on Tuesday. The stock’s 50-day moving average is $172.56 and its two-hundred day moving average is $152.09. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 1.72 and a beta of 1.27. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $209.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.20. The company had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 earnings per share. Analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

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.