SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 22.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,923 shares of the company’s stock after selling 569 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in SPX Technologies were worth $273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in SPX Technologies by 160.6% in the 1st quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock worth $47,069,000 after purchasing an additional 235,720 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $1,522,000. Capital World Investors lifted its position in shares of SPX Technologies by 31.7% in the 1st quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after acquiring an additional 91,266 shares in the last quarter. Norges Bank purchased a new stake in shares of SPX Technologies in the 4th quarter valued at approximately $48,528,000. Finally, UniSuper Management Pty Ltd purchased a new stake in SPX Technologies in the 1st quarter worth approximately $1,013,000. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

Separately, Oppenheimer downgraded shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th.

Insider Transactions at SPX Technologies

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

SPX Technologies Stock Performance

Shares of SPXC opened at $151.00 on Friday. SPX Technologies, Inc. has a 12 month low of $77.84 and a 12 month high of $164.91. The company’s fifty day moving average is $150.08 and its 200-day moving average is $136.47. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 73.66, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The business had revenue of $501.30 million for the quarter, compared to analyst estimates of $492.08 million. During the same period last year, the business posted $1.06 EPS. SPX Technologies’s revenue was up 18.4% compared to the same quarter last year. Equities analysts expect that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

SPX Technologies Profile

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.