SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 30.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,409 shares of the company’s stock after buying an additional 2,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in SPX Technologies were worth $950,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Navellier & Associates Inc. lifted its position in shares of SPX Technologies by 1.4% in the third quarter. Navellier & Associates Inc. now owns 8,814 shares of the company’s stock valued at $717,000 after acquiring an additional 125 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in SPX Technologies by 4.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,182 shares of the company’s stock worth $321,000 after purchasing an additional 132 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of SPX Technologies by 4.2% during the third quarter. Janney Montgomery Scott LLC now owns 4,176 shares of the company’s stock worth $340,000 after buying an additional 170 shares in the last quarter. Arizona State Retirement System raised its position in shares of SPX Technologies by 1.4% in the third 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 last quarter. Finally, Evergreen Capital Management LLC lifted its stake in shares of SPX Technologies by 5.5% in the third quarter. Evergreen Capital Management LLC now owns 3,458 shares of the company’s stock worth $281,000 after buying an additional 181 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

NYSE:SPXC opened at $121.52 on Monday. The company’s 50-day moving average is $117.58 and its two-hundred day moving average is $101.76. SPX Technologies, Inc. has a 1-year low of $61.09 and a 1-year high of $124.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.08. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 63.29, a PEG ratio of 1.34 and a beta of 1.25.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 EPS for the quarter, meeting analysts’ consensus estimates of $1.25. SPX Technologies had a return on equity of 17.30% and a net margin of 5.16%. The firm had revenue of $469.40 million for the quarter, compared to analysts’ expectations of $481.98 million. During the same period in the prior year, the firm posted $1.17 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts forecast that SPX Technologies, Inc. will post 5.05 EPS for the current year.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the sale, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the transaction, the chief executive officer now owns 597,936 shares of the company’s stock, valued at approximately $69,049,649.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the firm’s stock in a transaction dated 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 have sold 94,373 shares of company stock valued at $10,962,146 over the last 90 days. 3.53% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.