SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in SPX Technologies, Inc. (NYSE:SPXC) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,593 shares of the company’s stock after selling 205 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of SPX Technologies worth $3,038,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. increased its stake in shares of SPX Technologies by 6.2% during the 1st quarter. Xponance Inc. now owns 3,514 shares of the company’s stock worth $453,000 after purchasing an additional 205 shares in the last quarter. Teacher Retirement System of Texas grew its stake in SPX Technologies by 71.3% in the 1st quarter. Teacher Retirement System of Texas now owns 11,453 shares of the company’s stock worth $1,475,000 after acquiring an additional 4,766 shares during the period. Vontobel Holding Ltd. grew its stake in SPX Technologies by 17.0% in the 1st quarter. Vontobel Holding Ltd. now owns 7,955 shares of the company’s stock worth $1,024,000 after acquiring an additional 1,155 shares during the period. Peregrine Capital Management LLC grew its stake in SPX Technologies by 2.3% in the 1st quarter. Peregrine Capital Management LLC now owns 94,547 shares of the company’s stock worth $12,176,000 after acquiring an additional 2,136 shares during the period. Finally, Diversified Trust Co grew its stake in SPX Technologies by 83.9% in the 1st quarter. Diversified Trust Co now owns 14,467 shares of the company’s stock worth $1,863,000 after acquiring an additional 6,599 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total value of $1,043,987.23. Following the completion of the sale, the director owned 33,770 shares of the company’s stock, valued at approximately $5,167,147.70. The trade was a 16.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.32% of the company’s stock.

SPX Technologies Stock Down 1.3%

Shares of NYSE SPXC opened at $177.79 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.88 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $8.30 billion, a PE ratio of 41.44, a P/E/G ratio of 1.58 and a beta of 1.24. The firm has a fifty day moving average of $161.37 and a 200-day moving average of $147.47. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.22. The firm had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. SPX Technologies’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analysts Set New Price Targets

SPXC has been the subject of several recent analyst reports. B. Riley initiated coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a “buy” rating and a $195.00 target price for the company. Oppenheimer lifted their target price on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Finally, UBS Group raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $160.00 to $182.00 in a research note on Monday, June 2nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $189.60.

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.