Oppenheimer & Co. Inc. Takes $412,000 Position in SPX Technologies, Inc. (NYSE:SPXC)

SPX Technologies logoOppenheimer & Co. Inc. acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,352 shares of the company’s stock, valued at approximately $412,000.

Several other large investors also recently made changes to their positions in the business. State Street Corp boosted its position in shares of SPX Technologies by 2.8% during the 4th quarter. State Street Corp now owns 1,547,751 shares of the company’s stock valued at $92,370,000 after purchasing an additional 42,505 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of SPX Technologies by 2.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,159,306 shares of the company’s stock valued at $69,190,000 after purchasing an additional 25,353 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of SPX Technologies by 18.3% during the 1st quarter. GW&K Investment Management LLC now owns 923,283 shares of the company’s stock valued at $45,620,000 after purchasing an additional 142,785 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SPX Technologies by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 740,215 shares of the company’s stock valued at $44,176,000 after purchasing an additional 32,506 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of SPX Technologies by 18.7% during the 4th quarter. Nuveen Asset Management LLC now owns 736,390 shares of the company’s stock valued at $43,948,000 after purchasing an additional 115.860 shares in the last quarter. Institutional investors own 86.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SPXC. TheStreet raised shares of SPX Technologies from a “c” rating to a “b-” rating in a research note on Tuesday, July 19th. StockNews.com raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Monday, August 8th.

SPX Technologies Price Performance

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NYSE SPXC opened at $57.04 on Tuesday. The company has a 50 day simple moving average of $57.01 and a 200-day simple moving average of $51.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.11 and a quick ratio of 1.47. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. SPX Technologies, Inc. has a 52-week low of $41.66 and a 52-week high of $68.24.

SPX Technologies (NYSE:SPXC – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. The business had revenue of $354.00 million during the quarter, compared to analyst estimates of $341.43 million. SPX Technologies had a net margin of 27.91% and a return on equity of 10.25%. Equities research analysts predict that SPX Technologies, Inc. will post 2.83 earnings per share for the current fiscal year.

Insider Transactions at SPX Technologies

In other news, insider John William Swann III sold 9,365 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $55.00, for a total value of $515,075.00. Following the completion of the sale, the insider now directly owns 83,472 shares of the company’s stock, valued at $4,590,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is owned by insiders.

About SPX Technologies

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SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. 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 and comfort heating and ventilation products for the residential and commercial markets.

See Also

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Institutional Ownership by Quarter for SPX Technologies (NYSE:SPXC)

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