NEOS Investment Management LLC Sells 3,883 Shares of SPX Technologies, Inc. $SPXC

NEOS Investment Management LLC lessened its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 9.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,637 shares of the company’s stock after selling 3,883 shares during the period. NEOS Investment Management LLC owned 0.07% of SPX Technologies worth $6,656,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Hazlett Burt & Watson Inc. bought a new stake in shares of SPX Technologies during the third quarter worth approximately $28,000. Cullen Frost Bankers Inc. raised its position in shares of SPX Technologies by 52.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after acquiring an additional 54 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SPX Technologies in the 2nd quarter valued at $31,000. Financial Consulate Inc. bought a new position in shares of SPX Technologies in the 3rd quarter worth $34,000. Finally, MAI Capital Management lifted its stake in SPX Technologies by 80.9% in the second quarter. MAI Capital Management now owns 208 shares of the company’s stock valued at $35,000 after buying an additional 93 shares during the period. 92.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SPXC shares. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Truist Financial boosted their price objective on shares of SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. B. Riley Financial reissued a “buy” rating and issued a $244.00 price target (up previously from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Finally, Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $280.00 in a research report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.29.

Insider Buying and Selling at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the sale, the insider directly owned 38,020 shares in the company, valued at $8,188,367.40. This represents a 23.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.32% of the company’s stock.

SPX Technologies Trading Down 0.1%

SPXC opened at $241.37 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of 51.69, a P/E/G ratio of 1.66 and a beta of 1.32. The company has a 50-day simple moving average of $215.20 and a 200 day simple moving average of $203.24. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $246.68.

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.