Knights of Columbus Asset Advisors LLC Raises Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Knights of Columbus Asset Advisors LLC raised its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 240.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,531 shares of the company’s stock after purchasing an additional 42,039 shares during the quarter. Knights of Columbus Asset Advisors LLC owned approximately 0.13% of SPX Technologies worth $6,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cornerstone Investment Partners LLC bought a new stake in shares of SPX Technologies during the 4th quarter valued at $213,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SPX Technologies by 9.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,482 shares of the company’s stock worth $1,059,000 after purchasing an additional 870 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in SPX Technologies in the 4th quarter worth about $2,303,000. Sapient Capital LLC bought a new position in SPX Technologies in the 4th quarter worth about $384,000. Finally, Cerity Partners LLC bought a new position in SPX Technologies in the 4th quarter worth about $204,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Stock Performance

SPX Technologies stock traded down $0.25 during midday trading on Friday, hitting $117.42. The stock had a trading volume of 58,710 shares, compared to its average volume of 230,412. The firm’s fifty day moving average is $116.29 and its two-hundred day moving average is $99.89. The company has a market capitalization of $5.43 billion, a PE ratio of 61.42, a P/E/G ratio of 1.30 and a beta of 1.25. SPX Technologies, Inc. has a 52-week low of $61.09 and a 52-week high of $124.81. The company has a current ratio of 1.77, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.25. The company had revenue of $469.40 million during the quarter, compared to analyst estimates of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 EPS. On average, research analysts forecast that SPX Technologies, Inc. will post 5.03 EPS for the current year.

Analyst Ratings Changes

SPXC has been the topic of several research analyst reports. Oppenheimer restated an “outperform” rating and set a $134.00 target price (up previously from $124.00) on shares of SPX Technologies in a research note on Thursday, March 28th. StockNews.com cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Finally, UBS Group upped their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the transaction, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John William Swann III sold 32,325 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the transaction, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the transaction, the chief executive officer now owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The disclosure for this sale can be found here. Insiders sold 94,373 shares of company stock worth $10,962,146 in the last three months. 3.53% of the stock is owned by company insiders.

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.