SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 211.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 604 shares of the company’s stock after buying an additional 410 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in SPX Technologies were worth $78,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Invesco Ltd. lifted its position in SPX Technologies by 3.4% in the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company’s stock worth $167,462,000 after purchasing an additional 37,468 shares during the period. Conestoga Capital Advisors LLC lifted its position in SPX Technologies by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company’s stock worth $102,920,000 after purchasing an additional 11,400 shares during the period. Janus Henderson Group PLC lifted its position in SPX Technologies by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company’s stock worth $105,321,000 after purchasing an additional 26,995 shares during the period. FMR LLC lifted its position in SPX Technologies by 8.5% in the fourth quarter. FMR LLC now owns 718,298 shares of the company’s stock worth $104,527,000 after purchasing an additional 56,175 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in SPX Technologies by 1.7% in the fourth quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company’s stock worth $102,714,000 after purchasing an additional 11,771 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Price Performance

NYSE SPXC opened at $181.17 on Thursday. The stock has a market capitalization of $8.46 billion, a P/E ratio of 42.23, a P/E/G ratio of 1.58 and a beta of 1.24. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The business’s fifty day moving average is $165.04 and its two-hundred day moving average is $149.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.22. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. The company 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 business earned $1.25 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, research analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Insider Transactions at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of the business’s stock in a transaction 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 directly owned 33,770 shares of the company’s stock, valued at $5,167,147.70. The trade was a 16.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SPXC shares. UBS Group upgraded SPX Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $160.00 to $182.00 in a research report on Monday, June 2nd. Oppenheimer upped their price target on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, B. Riley started coverage on SPX Technologies in a report on Thursday, May 15th. They issued a “buy” rating and a $195.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $189.60.

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.