Knights of Columbus Asset Advisors LLC Boosts Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Knights of Columbus Asset Advisors LLC grew its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 240.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,531 shares of the company’s stock after buying an additional 42,039 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in SPX Technologies were worth $6,013,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SPXC. Fairfield Bush & CO. purchased a new stake in shares of SPX Technologies in the first quarter valued at approximately $35,000. US Bancorp DE increased its position in shares of SPX Technologies by 4.2% during the first quarter. US Bancorp DE now owns 8,869 shares of the company’s stock worth $438,000 after purchasing an additional 358 shares in the last quarter. HighTower Advisors LLC boosted its stake in SPX Technologies by 7.1% during the first quarter. HighTower Advisors LLC now owns 4,367 shares of the company’s stock worth $216,000 after buying an additional 290 shares during the last quarter. Citigroup Inc. boosted its stake in SPX Technologies by 12.1% during the first quarter. Citigroup Inc. now owns 40,083 shares of the company’s stock worth $1,981,000 after buying an additional 4,333 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in SPX Technologies by 31.0% during the first quarter. PNC Financial Services Group Inc. now owns 14,499 shares of the company’s stock worth $717,000 after buying an additional 3,432 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Trading Down 0.2 %

SPX Technologies stock traded down $0.25 during midday trading on Friday, reaching $117.42. 58,710 shares of the stock traded hands, compared to its average volume of 230,412. The company has a 50-day simple moving average of $116.29 and a two-hundred day simple moving average of $99.89. SPX Technologies, Inc. has a 12-month low of $61.09 and a 12-month high of $124.81. The firm has a market cap of $5.43 billion, a PE ratio of 61.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.25. The company has a current ratio of 1.77, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44.

SPX Technologies (NYSE:SPXC) last announced its earnings results 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 company had revenue of $469.40 million during the quarter, compared to analysts’ expectations of $481.98 million. During the same period last year, the business posted $1.17 EPS. SPX Technologies’s revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts expect that SPX Technologies, Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $134.00 price objective (up previously from $124.00) on shares of SPX Technologies in a research note on Thursday, March 28th. StockNews.com lowered SPX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Finally, UBS Group upped their price target on SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th.

Insider Activity at SPX Technologies

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the sale, the chief executive officer now owns 667,045 shares of the company’s stock, valued at approximately $76,936,970.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the sale, the chief executive officer now owns 667,045 shares of the company’s stock, valued at approximately $76,936,970.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John William Swann III sold 32,325 shares of the 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 completion of the sale, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Insiders sold 94,373 shares of company stock worth $10,962,146 in the last three months. 3.53% of the stock is owned by company insiders.

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.