Public Sector Pension Investment Board Buys 33,521 Shares of SPX Technologies, Inc. $SPXC

Public Sector Pension Investment Board raised its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 21.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 192,701 shares of the company’s stock after buying an additional 33,521 shares during the period. Public Sector Pension Investment Board owned about 0.39% of SPX Technologies worth $35,993,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. purchased a new stake in SPX Technologies during the third quarter valued at $28,000. Cullen Frost Bankers Inc. grew its stake in shares of SPX Technologies by 52.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 54 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SPX Technologies during the 2nd quarter valued at about $31,000. Financial Consulate Inc. purchased a new stake in shares of SPX Technologies during the 3rd quarter valued at about $34,000. Finally, MAI Capital Management lifted its stake in shares of SPX Technologies by 80.9% in the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock worth $35,000 after purchasing an additional 93 shares during the period. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Down 1.1%

SPXC opened at $230.87 on Friday. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 49.44, a price-to-earnings-growth ratio of 1.95 and a beta of 1.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. The firm’s fifty day moving average is $212.82 and its 200 day moving average is $201.56. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $240.30.

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages have commented on SPXC. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Truist Financial boosted their price target on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Finally, B. Riley Financial restated a “buy” rating and issued a $244.00 price target (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $214.14.

About SPX Technologies

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.