Oppenheimer Asset Management Inc. Purchases 4,592 Shares of SPX Technologies, Inc. $SPXC

Oppenheimer Asset Management Inc. increased its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 29.8% during the third quarter, HoldingsChannel.com reports. The firm owned 19,999 shares of the company’s stock after buying an additional 4,592 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SPX Technologies were worth $3,735,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SPXC. Hazlett Burt & Watson Inc. acquired a new stake in SPX Technologies during the third quarter worth $28,000. Cullen Frost Bankers Inc. raised its stake in shares of SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of SPX Technologies during the 2nd quarter worth about $31,000. Financial Consulate Inc. acquired a new stake in shares of SPX Technologies during the 3rd quarter valued at about $34,000. Finally, MAI Capital Management boosted its position in shares of SPX Technologies by 80.9% during the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock valued at $35,000 after acquiring an additional 93 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the transaction, the insider directly owned 38,020 shares in the company, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This trade represents a 37.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SPXC has been the subject of several recent research reports. B. Riley Financial reissued a “buy” rating and issued a $244.00 price target (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Finally, Truist Financial increased their price objective on SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.14.

SPX Technologies Stock Up 1.1%

NYSE SPXC opened at $233.81 on Thursday. The stock has a market capitalization of $11.65 billion, a P/E ratio of 50.07, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $237.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. The stock has a fifty day moving average of $212.37 and a 200-day moving average of $201.35.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.