Public Sector Pension Investment Board Buys 33,521 Shares of SPX Technologies, Inc. $SPXC

Public Sector Pension Investment Board boosted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 21.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,701 shares of the company’s stock after purchasing an additional 33,521 shares during the quarter. Public Sector Pension Investment Board’s holdings in SPX Technologies were worth $35,993,000 as of its most recent SEC filing.

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

SPX Technologies Stock Performance

SPX Technologies stock opened at $230.87 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $240.30. The firm has a market capitalization of $11.51 billion, a P/E ratio of 49.44, a price-to-earnings-growth ratio of 1.95 and a beta of 1.32. The company’s 50-day moving average is $212.82 and its 200 day moving average is $201.56.

Analyst Ratings Changes

SPXC has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research 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 reiterated a “buy” rating and issued a $244.00 price target (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Truist Financial raised their price objective on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.14.

Insider Buying and Selling

In related news, insider J Randall Data sold 12,000 shares of the business’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 transaction, the insider 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This trade represents a 37.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.32% of the company’s stock.

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.