Wealth Enhancement Advisory Services LLC Boosts Position in SPX Technologies, Inc. (NYSE:SPXC)

Wealth Enhancement Advisory Services LLC boosted its position in SPX Technologies, Inc. (NYSE:SPXC) by 113.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,500 shares of the company’s stock after purchasing an additional 1,858 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SPX Technologies were worth $497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SPXC. Hilltop National Bank bought a new stake in shares of SPX Technologies during the 2nd quarter valued at $39,000. YHB Investment Advisors Inc. purchased a new stake in SPX Technologies in the first quarter worth about $51,000. GAMMA Investing LLC raised its stake in shares of SPX Technologies by 122.6% in the second quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock worth $60,000 after buying an additional 233 shares during the period. Palisade Asset Management LLC purchased a new position in shares of SPX Technologies during the 1st quarter valued at about $74,000. Finally, TFO Wealth Partners LLC grew its stake in shares of SPX Technologies by 58,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock valued at $118,000 after acquiring an additional 1,168 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $143.89, for a total transaction of $5,670,992.68. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 3.53% of the stock is owned by corporate insiders.

SPX Technologies Trading Up 2.7 %

SPX Technologies stock opened at $157.88 on Friday. SPX Technologies, Inc. has a 1 year low of $76.61 and a 1 year high of $164.91. The firm’s 50 day moving average price is $147.19 and its 200-day moving average price is $131.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The stock has a market cap of $7.31 billion, a P/E ratio of 77.02, a PEG ratio of 1.53 and a beta of 1.20.

SPX Technologies (NYSE:SPXC) last announced its quarterly 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 company had revenue of $501.30 million for the quarter, compared to the consensus estimate of $492.08 million. During the same period in the previous year, the firm posted $1.06 EPS. SPX Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities analysts predict that SPX Technologies, Inc. will post 5.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPXC. StockNews.com downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Oppenheimer downgraded shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th. William Blair reiterated an “outperform” rating on shares of SPX Technologies in a research note on Friday, May 3rd. Finally, UBS Group boosted their price objective on SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th.

SPX Technologies Company 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.