Capital International Investors Purchases Shares of 177,203 SPX Technologies, Inc. (NYSE:SPXC)

Capital International Investors purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 177,203 shares of the company’s stock, valued at approximately $21,819,000.

Other large investors also recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new position in shares of SPX Technologies during the 1st quarter worth approximately $51,000. Palisade Asset Management LLC acquired a new position in shares of SPX Technologies during the 1st quarter worth approximately $74,000. TFO Wealth Partners LLC raised its stake in shares of SPX Technologies by 58,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after buying an additional 1,168 shares during the period. Quadrant Capital Group LLC raised its stake in shares of SPX Technologies by 54.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock worth $135,000 after buying an additional 475 shares during the period. Finally, MCF Advisors LLC acquired a new position in shares of SPX Technologies during the 4th quarter worth approximately $173,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SPX Technologies

In related news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of the transaction, the insider now directly owns 52,657 shares in the company, valued at approximately $7,576,815.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SPXC shares. StockNews.com downgraded SPX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. UBS Group increased their price objective on SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th. Finally, William Blair reissued an “outperform” rating on shares of SPX Technologies in a research note on Friday, May 3rd.

SPX Technologies Trading Up 2.5 %

NYSE:SPXC traded up $3.70 during trading hours on Friday, hitting $149.43. The company had a trading volume of 373,727 shares, compared to its average volume of 252,466. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $143.05 and a 200 day moving average of $125.20. The company has a market cap of $6.91 billion, a P/E ratio of 72.89, a P/E/G ratio of 1.53 and a beta of 1.20. SPX Technologies, Inc. has a 1 year low of $76.61 and a 1 year high of $164.91.

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

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.