SPX Technologies, Inc. $SPXC Holdings Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 15.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,386 shares of the company’s stock after acquiring an additional 2,620 shares during the quarter. Advisors Asset Management Inc.’s holdings in SPX Technologies were worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its stake in SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of SPX Technologies by 1.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,661 shares of the company’s stock valued at $782,000 after buying an additional 56 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of SPX Technologies by 1.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,446 shares of the company’s stock valued at $644,000 after buying an additional 63 shares during the last quarter. Sage Rhino Capital LLC raised its stake in SPX Technologies by 5.3% during the third quarter. Sage Rhino Capital LLC now owns 1,350 shares of the company’s stock worth $252,000 after acquiring an additional 68 shares during the period. Finally, Amalgamated Bank raised its stake in SPX Technologies by 0.6% during the second quarter. Amalgamated Bank now owns 13,246 shares of the company’s stock worth $2,221,000 after acquiring an additional 76 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $280.00 in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. B. Riley Financial reaffirmed a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Finally, Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.29.

SPX Technologies Trading Up 3.5%

Shares of SPX Technologies stock opened at $238.93 on Friday. The business has a fifty day simple moving average of $213.41 and a 200-day simple moving average of $201.96. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $242.21. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 51.16, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23.

Insider Transactions at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the sale, the insider directly owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John William Swann III sold 38,755 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the sale, the insider directly owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.32% of the stock is currently owned by corporate insiders.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.