First Bank & Trust Buys Shares of 2,077 SPX Technologies, Inc. (NYSE:SPXC)

First Bank & Trust purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,077 shares of the company’s stock, valued at approximately $256,000.

Several other hedge funds also recently made changes to their positions in SPXC. TFO Wealth Partners LLC grew its position in shares of SPX Technologies by 58,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock valued at $118,000 after purchasing an additional 1,168 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of SPX Technologies by 54.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after purchasing an additional 475 shares in the last quarter. MCF Advisors LLC purchased a new position in shares of SPX Technologies in the fourth quarter valued at $173,000. Segment Wealth Management LLC purchased a new position in shares of SPX Technologies in the fourth quarter valued at $202,000. Finally, Cerity Partners LLC purchased a new position in shares of SPX Technologies in the fourth quarter valued at $204,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider J Randall Data sold 39,412 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $143.89, for a total value of $5,670,992.68. Following the completion of the sale, the insider now owns 52,657 shares of the company’s stock, valued at approximately $7,576,815.73. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.53% of the company’s stock.

SPX Technologies Trading Up 0.7 %

Shares of SPXC stock opened at $142.14 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $135.86 and a two-hundred day moving average price of $118.49. SPX Technologies, Inc. has a 12-month low of $76.61 and a 12-month high of $146.50. The firm has a market cap of $6.57 billion, a P/E ratio of 69.34, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.19. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The firm had revenue of $465.20 million during the quarter, compared to analyst estimates of $454.05 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. Equities analysts anticipate that SPX Technologies, Inc. will post 5.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPXC has been the subject of several recent analyst reports. StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Oppenheimer boosted their target price on SPX Technologies from $134.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. UBS Group boosted their target price on SPX Technologies from $126.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Finally, William Blair restated an “outperform” rating on shares of SPX Technologies in a research report on Friday, May 3rd.

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.