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

Geneva Capital Management LLC raised its stake in SPX Technologies, Inc. (NYSE:SPXC) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 465,807 shares of the company’s stock after purchasing an additional 853 shares during the quarter. Geneva Capital Management LLC owned 1.02% of SPX Technologies worth $47,051,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC grew its stake in shares of SPX Technologies by 240.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 59,531 shares of the company’s stock valued at $6,013,000 after buying an additional 42,039 shares during the period. Raymond James & Associates lifted its stake in shares of SPX Technologies by 153.2% in the 4th quarter. Raymond James & Associates now owns 24,895 shares of the company’s stock valued at $2,515,000 after purchasing an additional 15,063 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of SPX Technologies during the 4th quarter worth about $2,303,000. FMR LLC increased its position in SPX Technologies by 23.0% during the 3rd quarter. FMR LLC now owns 1,338,942 shares of the company’s stock worth $108,990,000 after purchasing an additional 250,494 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in SPX Technologies by 16.7% in the third quarter. Sei Investments Co. now owns 162,586 shares of the company’s stock valued at $13,235,000 after buying an additional 23,287 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was 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 of the company’s stock, valued at approximately $69,049,649.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of the 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 sale, the chief executive officer now 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 is available through the SEC website. Also, insider John William Swann III sold 32,325 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 in the company, valued at $9,747,987.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,373 shares of company stock worth $10,962,146. 3.53% of the stock is currently owned by company insiders.

SPX Technologies Stock Up 3.9 %

Shares of NYSE:SPXC traded up $5.20 during midday trading on Thursday, hitting $139.12. 249,955 shares of the stock were exchanged, compared to its average volume of 242,464. The business’s fifty day simple moving average is $120.72 and its two-hundred day simple moving average is $104.53. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 1.12. SPX Technologies, Inc. has a 52-week low of $71.57 and a 52-week high of $139.49. The company has a market capitalization of $6.43 billion, a PE ratio of 67.86, a P/E/G ratio of 1.35 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.19. The business had revenue of $465.20 million during the quarter, compared to analyst estimates of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. SPX Technologies’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, research analysts predict that SPX Technologies, Inc. will post 5.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer raised their price objective on SPX Technologies from $134.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. StockNews.com raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. UBS Group lifted their target price on SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, SPX Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.00.

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.