Charles Schwab Investment Management Inc. Buys 10,501 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Charles Schwab Investment Management Inc. boosted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 635,862 shares of the company’s stock after acquiring an additional 10,501 shares during the period. Charles Schwab Investment Management Inc.’s holdings in SPX Technologies were worth $81,886,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SPXC. NBC Securities Inc. bought a new stake in SPX Technologies in the first quarter valued at approximately $27,000. Eastern Bank acquired a new position in SPX Technologies in the first quarter valued at approximately $38,000. Skandinaviska Enskilda Banken AB publ lifted its stake in SPX Technologies by 211.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company’s stock valued at $78,000 after buying an additional 410 shares during the period. Farther Finance Advisors LLC lifted its stake in SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company’s stock valued at $83,000 after buying an additional 98 shares during the period. Finally, Signaturefd LLC lifted its stake in SPX Technologies by 28.2% in the first quarter. Signaturefd LLC now owns 805 shares of the company’s stock valued at $104,000 after buying an additional 177 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $191.96 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38. The stock’s 50 day moving average is $173.93 and its 200-day moving average is $152.63. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 1.63 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%. The company had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. During the same period in the prior year, the firm earned $1.42 earnings per share. SPX Technologies’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Insider Buying and Selling at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the transaction, the director directly owned 33,770 shares of the company’s stock, valued at $5,167,147.70. This represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.32% of the stock is owned by insiders.

Analysts Set New Price Targets

SPXC has been the topic of several recent analyst reports. B. Riley initiated coverage on SPX Technologies in a research note on Thursday, May 15th. They issued a “buy” rating and a $195.00 price target on the stock. UBS Group boosted their price target on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Oppenheimer boosted their price target on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SPX Technologies has an average rating of “Buy” and a consensus price target of $195.20.

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.