Quadrant Capital Group LLC raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC – Get Rating) by 138.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 898 shares of the company’s stock after acquiring an additional 522 shares during the period. Quadrant Capital Group LLC’s holdings in SPX Technologies were worth $59,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio increased its position in shares of SPX Technologies by 67.0% in the 4th quarter. Strs Ohio now owns 16,700 shares of the company’s stock valued at $1,096,000 after buying an additional 6,700 shares in the last quarter. Moody National Bank Trust Division acquired a new position in SPX Technologies in the 4th quarter worth $792,000. Lazard Asset Management LLC acquired a new position in SPX Technologies in the 3rd quarter worth $82,000. Maryland State Retirement & Pension System acquired a new position in SPX Technologies in the 4th quarter worth $1,221,000. Finally, PDT Partners LLC acquired a new position in SPX Technologies in the 3rd quarter worth $201,000. Institutional investors own 92.06% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on SPXC shares. William Blair started coverage on shares of SPX Technologies in a research note on Monday, April 17th. They issued an “outperform” rating for the company. TheStreet upgraded shares of SPX Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, May 25th. Oppenheimer raised their target price on shares of SPX Technologies from $82.00 to $85.00 in a research note on Friday, May 5th. Finally, StockNews.com assumed coverage on shares of SPX Technologies in a research note on Thursday, May 18th. They issued a “hold” rating for the company.
SPX Technologies Trading Up 3.2 %
SPX Technologies (NYSE:SPXC – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.33. The firm had revenue of $399.80 million for the quarter, compared to analysts’ expectations of $329.78 million. SPX Technologies had a net margin of 2.03% and a return on equity of 15.33%. The business’s revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Sell-side analysts forecast that SPX Technologies, Inc. will post 3.92 earnings per share for the current year.
Insider Transactions at SPX Technologies
In other news, insider J Randall Data sold 28,826 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $67.76, for a total transaction of $1,953,249.76. Following the transaction, the insider now directly owns 92,124 shares of the company’s stock, valued at $6,242,322.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP John Webster Nurkin sold 11,131 shares of SPX Technologies stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $71.46, for a total value of $795,421.26. Following the transaction, the vice president now directly owns 88,196 shares of the company’s stock, valued at $6,302,486.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J Randall Data sold 28,826 shares of SPX Technologies stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $67.76, for a total transaction of $1,953,249.76. Following the completion of the transaction, the insider now directly owns 92,124 shares in the company, valued at $6,242,322.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,228 shares of company stock valued at $5,783,687. 4.02% of the stock is currently owned by company insiders.
SPX Technologies Profile
SPX Technologies, Inc engages in the supply of infrastructure equipment. It operates through the HVAC and Detection and Measurement segments. The HVAC segment engineers, designs, manufactures, installs, and services cooling products and engineered air quality solutions to the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets.
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