Robeco Schweiz AG Increases Stake in SPX Technologies, Inc. (NYSE:SPXC)

Robeco Schweiz AG increased its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 43.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,098 shares of the company’s stock after buying an additional 59,243 shares during the period. Robeco Schweiz AG owned about 0.43% of SPX Technologies worth $19,606,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TFO Wealth Partners LLC increased its stake in shares of SPX Technologies by 58,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock valued at $118,000 after buying an additional 1,168 shares during the period. Quadrant Capital Group LLC boosted its position in SPX Technologies by 54.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after purchasing an additional 475 shares in the last quarter. MCF Advisors LLC bought a new stake in SPX Technologies during the fourth quarter valued at about $173,000. Segment Wealth Management LLC bought a new stake in SPX Technologies during the fourth quarter valued at about $202,000. Finally, Cerity Partners LLC bought a new stake in SPX Technologies during the fourth quarter valued at about $204,000. 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 $0.88 on Tuesday, reaching $131.51. 2,824 shares of the stock were exchanged, compared to its average volume of 228,923. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. SPX Technologies, Inc. has a twelve month low of $76.61 and a twelve month high of $145.65. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 64.58, a PEG ratio of 1.38 and a beta of 1.21. The business has a 50 day moving average price of $130.24 and a two-hundred day moving average price of $113.52.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.19. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The firm had revenue of $465.20 million during the quarter, compared to the consensus estimate of $454.05 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. Analysts anticipate that SPX Technologies, Inc. will post 5.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently 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 report on Friday, May 3rd. UBS Group raised their price target on SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. William Blair reissued an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Finally, StockNews.com downgraded SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th.

Insider Buying and Selling

In related news, insider John William Swann III sold 32,325 shares of SPX Technologies 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 completion of the transaction, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.53% of the company’s stock.

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.