SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,182 shares of the company’s stock after acquiring an additional 132 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in SPX Technologies were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Navellier & Associates Inc. increased its holdings in shares of SPX Technologies by 1.4% in the 3rd quarter. Navellier & Associates Inc. now owns 8,814 shares of the company’s stock valued at $717,000 after acquiring an additional 125 shares during the period. Janney Montgomery Scott LLC increased its stake in SPX Technologies by 4.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,176 shares of the company’s stock valued at $340,000 after buying an additional 170 shares during the period. Arizona State Retirement System increased its stake in SPX Technologies by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 12,966 shares of the company’s stock valued at $1,055,000 after buying an additional 175 shares during the period. Evergreen Capital Management LLC increased its stake in SPX Technologies by 5.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 3,458 shares of the company’s stock valued at $281,000 after buying an additional 181 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in SPX Technologies by 0.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,156 shares of the company’s stock valued at $1,982,000 after buying an additional 232 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SPXC shares. Oppenheimer reissued an “outperform” rating and issued a $134.00 price objective (up from $124.00) on shares of SPX Technologies in a research note on Thursday, March 28th. StockNews.com cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Finally, UBS Group boosted their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th.

SPX Technologies Trading Up 0.1 %

Shares of SPXC stock opened at $117.66 on Friday. The firm has a 50-day moving average price of $116.29 and a 200 day moving average price of $99.89. SPX Technologies, Inc. has a twelve month low of $61.09 and a twelve month high of $124.81. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 61.28, a PEG ratio of 1.31 and a beta of 1.25. The company has a current ratio of 1.77, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.25. The firm had revenue of $469.40 million during the quarter, compared to the consensus estimate of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. Research analysts forecast that SPX Technologies, Inc. will post 5.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares in the company, valued at approximately $9,747,987.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the completion of the transaction, the chief executive officer now directly owns 667,045 shares in the company, valued at approximately $76,936,970.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John William Swann III sold 32,325 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the transaction, the insider now owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The disclosure for this sale can be found here. Insiders sold a total of 94,373 shares of company stock worth $10,962,146 in the last 90 days. 3.53% of the stock is owned by company insiders.

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.