UniSuper Management Pty Ltd Makes New Investment in SPX Technologies, Inc. (NYSE:SPXC)

UniSuper Management Pty Ltd bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,227 shares of the company’s stock, valued at approximately $1,013,000.

A number of other institutional investors have also made changes to their positions in the business. YHB Investment Advisors Inc. bought a new stake in shares of SPX Technologies during the first quarter valued at approximately $51,000. Palisade Asset Management LLC bought a new stake in shares of SPX Technologies during the 1st quarter valued at $74,000. TFO Wealth Partners LLC lifted its stake in shares of SPX Technologies by 58,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock valued at $118,000 after purchasing an additional 1,168 shares during the period. Quadrant Capital Group LLC grew its stake in shares of SPX Technologies by 54.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock worth $135,000 after purchasing an additional 475 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new stake in SPX Technologies in the first quarter valued at about $203,000. 92.82% of the stock is owned by institutional investors.

Insider Buying and Selling at SPX Technologies

In other news, insider J Randall Data sold 39,412 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $143.89, for a total value of $5,670,992.68. Following the sale, the insider now owns 52,657 shares of the company’s stock, valued at $7,576,815.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.53% of the company’s stock.

SPX Technologies Stock Up 0.9 %

Shares of SPXC stock traded up $1.39 during trading hours on Thursday, hitting $149.35. 15,641 shares of the company were exchanged, compared to its average volume of 249,840. The company has a market capitalization of $6.90 billion, a PE ratio of 72.25, a PEG ratio of 1.61 and a beta of 1.20. SPX Technologies, Inc. has a 52 week low of $76.61 and a 52 week high of $164.91. The business has a 50 day moving average of $142.72 and a two-hundred day moving average of $124.69. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results 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 firm had revenue of $465.20 million for the quarter, compared to the consensus estimate of $454.05 million. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. Analysts anticipate that SPX Technologies, Inc. will post 5.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SPXC. StockNews.com lowered SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Oppenheimer lowered shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th. William Blair reissued an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Finally, UBS Group raised their price objective on SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th.

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.