Van Berkom & Associates Inc. Has $66.69 Million Position in SPX Technologies, Inc. $SPXC

Van Berkom & Associates Inc. cut its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 18.6% in the third quarter, Holdings Channel.com reports. The fund owned 357,053 shares of the company’s stock after selling 81,456 shares during the quarter. Van Berkom & Associates Inc.’s holdings in SPX Technologies were worth $66,690,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of SPX Technologies in the 2nd quarter valued at $97,223,000. AustralianSuper Pty Ltd bought a new position in shares of SPX Technologies in the 3rd quarter valued at approximately $41,092,000. Invesco Ltd. lifted its holdings in SPX Technologies by 22.3% in the 2nd quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock worth $194,035,000 after purchasing an additional 210,682 shares during the last quarter. Fisher Asset Management LLC bought a new stake in SPX Technologies during the second quarter worth approximately $19,817,000. Finally, Franklin Resources Inc. grew its holdings in SPX Technologies by 33.3% during the second quarter. Franklin Resources Inc. now owns 301,284 shares of the company’s stock valued at $50,519,000 after purchasing an additional 75,263 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Performance

SPXC opened at $215.66 on Wednesday. The stock has a market cap of $10.75 billion, a PE ratio of 46.18, a P/E/G ratio of 1.78 and a beta of 1.32. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $233.71. The stock’s 50 day simple moving average is $211.00 and its 200-day simple moving average is $199.52. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

Several research firms recently issued reports on SPXC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. B. Riley reiterated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Bank of America began coverage on SPX Technologies in a report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price target for the company. Finally, TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, SPX Technologies presently has an average rating of “Moderate Buy” and an average price target of $214.14.

Insiders Place Their Bets

In other news, insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the transaction, the insider directly owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This trade represents a 37.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the sale, the insider directly owned 38,020 shares in the company, valued at approximately $8,188,367.40. The trade was a 23.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.32% of the company’s stock.

SPX Technologies Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.