SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Yarbrough Capital LLC

Yarbrough Capital LLC raised its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 34.3% in the first quarter, HoldingsChannel reports. The firm owned 9,495 shares of the company’s stock after acquiring an additional 2,423 shares during the period. Yarbrough Capital LLC’s holdings in SPX Technologies were worth $1,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in SPX Technologies during the 1st quarter valued at about $27,000. Rhumbline Advisers raised its position in shares of SPX Technologies by 1.2% during the 1st quarter. Rhumbline Advisers now owns 122,728 shares of the company’s stock worth $15,805,000 after buying an additional 1,468 shares in the last quarter. GAMMA Investing LLC raised its position in shares of SPX Technologies by 25,946.4% during the 1st quarter. GAMMA Investing LLC now owns 138,567 shares of the company’s stock worth $17,845,000 after buying an additional 138,035 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of SPX Technologies during the 4th quarter worth about $318,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of SPX Technologies during the 4th quarter worth about $5,209,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Rick D. Puckett sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the sale, the director now owns 33,770 shares in the company, valued at $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.32% of the company’s stock.

SPX Technologies Stock Up 0.9%

NYSE SPXC opened at $157.57 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The company’s 50 day simple moving average is $141.74 and its 200 day simple moving average is $146.17. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $183.83. The company has a market capitalization of $7.36 billion, a P/E ratio of 42.36, a PEG ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, May 1st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report 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 research report on Wednesday, February 26th. UBS Group upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $160.00 to $182.00 in a research report on Monday, June 2nd. Finally, B. Riley assumed coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They set a “buy” rating and a $195.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $183.20.

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.