Geneva Capital Management LLC Raises Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Geneva Capital Management LLC boosted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 465,807 shares of the company’s stock after acquiring an additional 853 shares during the period. Geneva Capital Management LLC’s holdings in SPX Technologies were worth $47,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of SPX Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 456,819 shares of the company’s stock worth $46,143,000 after acquiring an additional 11,882 shares in the last quarter. Sapient Capital LLC purchased a new position in SPX Technologies during the 4th quarter worth $371,000. Natixis Advisors L.P. increased its position in SPX Technologies by 6.6% during the 4th quarter. Natixis Advisors L.P. now owns 16,514 shares of the company’s stock valued at $1,668,000 after buying an additional 1,021 shares in the last quarter. Victory Capital Management Inc. raised its stake in SPX Technologies by 413.0% in the fourth quarter. Victory Capital Management Inc. now owns 68,132 shares of the company’s stock valued at $6,882,000 after buying an additional 54,850 shares during the last quarter. Finally, PYA Waltman Capital LLC acquired a new stake in SPX Technologies in the fourth quarter worth about $242,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

SPX Technologies stock traded up $5.20 during mid-day trading on Thursday, hitting $139.12. The company had a trading volume of 249,955 shares, compared to its average volume of 242,464. The company’s fifty day moving average is $120.72 and its 200-day moving average is $104.53. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. SPX Technologies, Inc. has a 12-month low of $71.57 and a 12-month high of $139.49. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 67.86, a P/E/G ratio of 1.35 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.19. The company had revenue of $465.20 million for the quarter, compared to the consensus estimate of $454.05 million. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. SPX Technologies’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.93 earnings per share. Equities research analysts predict that SPX Technologies, Inc. will post 5.38 EPS for the current year.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the business’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 transaction of $3,801,743.25. Following the completion of the sale, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related 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 value of $3,801,743.25. Following the completion of the sale, the insider now owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was 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 directly owns 667,045 shares in the company, valued at approximately $76,936,970.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,373 shares of company stock valued at $10,962,146. 3.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SPXC has been the topic of a number of recent analyst reports. UBS Group upped their price target on shares of SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Finally, Oppenheimer boosted their target price on shares of SPX Technologies from $134.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $141.00.

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.