Swiss National Bank Has $11.57 Million Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Swiss National Bank lessened its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,818 shares of the company’s stock after selling 1,300 shares during the quarter. Swiss National Bank’s holdings in SPX Technologies were worth $11,567,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SPXC. Conestoga Capital Advisors LLC boosted its stake in shares of SPX Technologies by 1.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company’s stock worth $102,920,000 after acquiring an additional 11,400 shares during the period. Janus Henderson Group PLC lifted its holdings in SPX Technologies by 3.9% during the 4th quarter. Janus Henderson Group PLC now owns 723,708 shares of the company’s stock valued at $105,321,000 after purchasing an additional 26,995 shares during the last quarter. Nuveen Asset Management LLC boosted its position in SPX Technologies by 1.7% during 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. Charles Schwab Investment Management Inc. increased its holdings in shares of SPX Technologies by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 635,862 shares of the company’s stock valued at $81,886,000 after purchasing an additional 10,501 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of SPX Technologies by 54.5% in the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company’s stock valued at $80,519,000 after purchasing an additional 195,153 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction 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 sale, the director directly owned 33,770 shares of the company’s stock, valued at approximately $5,167,147.70. This represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.32% of the stock is owned by corporate insiders.

SPX Technologies Price Performance

Shares of SPX Technologies stock opened at $186.72 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $209.38. The company has a 50-day simple moving average of $174.54 and a two-hundred day simple moving average of $152.93.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on SPXC shares. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Oppenheimer boosted their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. B. Riley started coverage on SPX Technologies in a research note on Thursday, May 15th. They set a “buy” rating and a $195.00 target price on the stock. Finally, UBS Group lifted their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Five equities research 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.com, the stock has an average rating of “Buy” and an average target price of $195.20.

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.