SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Kennedy Capital Management LLC

Kennedy Capital Management LLC lifted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,868 shares of the company’s stock after acquiring an additional 1,752 shares during the quarter. Kennedy Capital Management LLC owned 0.07% of SPX Technologies worth $4,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SPXC. Vanguard Group Inc. grew its position in SPX Technologies by 3.5% during the first quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company’s stock worth $637,067,000 after buying an additional 173,021 shares during the period. Artisan Partners Limited Partnership grew its position in SPX Technologies by 15.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 809,824 shares of the company’s stock worth $81,800,000 after buying an additional 106,798 shares during the period. Norges Bank acquired a new position in SPX Technologies during the fourth quarter worth about $48,528,000. Charles Schwab Investment Management Inc. grew its position in SPX Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 456,819 shares of the company’s stock worth $46,143,000 after buying an additional 11,882 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of SPX Technologies by 86.8% in the first quarter. Principal Financial Group Inc. now owns 443,408 shares of the company’s stock valued at $54,597,000 after purchasing an additional 206,054 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPXC has been the topic of several recent research reports. UBS Group upped their price target on shares of SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. StockNews.com downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Finally, Oppenheimer downgraded shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th.

SPX Technologies Trading Down 2.3 %

NYSE:SPXC traded down $3.36 during trading hours on Tuesday, reaching $145.28. 223,654 shares of the company were exchanged, compared to its average volume of 253,620. SPX Technologies, Inc. has a 52-week low of $76.61 and a 52-week high of $164.91. The stock has a 50 day simple moving average of $143.14 and a 200 day simple moving average of $125.92. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 70.87, a PEG ratio of 1.55 and a beta of 1.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.70.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.19. The business had revenue of $465.20 million during the quarter, compared to analyst estimates of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The business’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. As a group, analysts predict that SPX Technologies, Inc. will post 5.37 EPS for the current year.

Insider Transactions at SPX Technologies

In related news, insider J Randall Data sold 39,412 shares of SPX Technologies stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $143.89, for a total value of $5,670,992.68. Following the sale, the insider now directly owns 52,657 shares in the company, valued at approximately $7,576,815.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.53% of the company’s stock.

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.