SPX Technologies, Inc. $SPXC Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 50.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,914 shares of the company’s stock after selling 10,150 shares during the quarter. Granite Investment Partners LLC’s holdings in SPX Technologies were worth $1,852,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after purchasing an additional 2,892 shares in the last quarter. AQR Capital Management LLC grew its position in SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after buying an additional 8,854 shares in the last quarter. Millennium Management LLC increased its stake in SPX Technologies by 214.4% during the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after buying an additional 56,799 shares during the period. NewEdge Advisors LLC raised its position in shares of SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock worth $80,000 after buying an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of SPX Technologies by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock worth $24,742,000 after acquiring an additional 3,353 shares during the period. Institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SPXC. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $280.00 in a report on Friday, February 13th. Truist Financial lifted their price target on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. B. Riley Financial restated a “buy” rating and issued a $244.00 price objective (up previously from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.29.

Insider Transactions at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction dated 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 owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.32% of the company’s stock.

SPX Technologies Trading Down 2.3%

SPX Technologies stock opened at $236.78 on Tuesday. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $246.68. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The stock has a market cap of $11.80 billion, a P/E ratio of 50.70, a P/E/G ratio of 1.67 and a beta of 1.32. The company’s fifty day simple moving average is $216.33 and its 200-day simple moving average is $204.03.

SPX Technologies Company 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.