Vanguard Group Inc. Raises Position in SPX Technologies, Inc. $SPXC

Vanguard Group Inc. raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,298,472 shares of the company’s stock after buying an additional 232,436 shares during the quarter. Vanguard Group Inc. owned about 10.63% of SPX Technologies worth $989,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. purchased a new position in shares of SPX Technologies during the third quarter worth about $28,000. Cullen Frost Bankers Inc. lifted its position in SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in SPX Technologies during the second quarter valued at approximately $31,000. Financial Consulate Inc. purchased a new position in SPX Technologies in the 3rd quarter worth approximately $34,000. Finally, MAI Capital Management increased its holdings in shares of SPX Technologies by 80.9% in the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock worth $35,000 after buying an additional 93 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Trading Up 0.5%

Shares of NYSE SPXC opened at $242.10 on Friday. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $246.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70. The firm has a 50-day moving average of $215.95 and a 200 day moving average of $203.80. The stock has a market cap of $12.07 billion, a P/E ratio of 51.84, a price-to-earnings-growth ratio of 1.67 and a beta of 1.32.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $8,188,367.40. This trade represents a 23.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.32% of the stock is owned by insiders.

SPX Technologies Profile

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.