PYA Waltman Capital LLC Acquires New Holdings in SPX Technologies, Inc. (NYSE:SPXC)

PYA Waltman Capital LLC acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,391 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its position in SPX Technologies by 240.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 59,531 shares of the company’s stock valued at $6,013,000 after purchasing an additional 42,039 shares in the last quarter. Raymond James & Associates boosted its holdings in SPX Technologies by 153.2% in the fourth quarter. Raymond James & Associates now owns 24,895 shares of the company’s stock worth $2,515,000 after acquiring an additional 15,063 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in SPX Technologies in the fourth quarter worth about $2,303,000. FMR LLC boosted its holdings in SPX Technologies by 23.0% in the third quarter. FMR LLC now owns 1,338,942 shares of the company’s stock worth $108,990,000 after acquiring an additional 250,494 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in SPX Technologies by 16.7% in the third quarter. Sei Investments Co. now owns 162,586 shares of the company’s stock worth $13,235,000 after acquiring an additional 23,287 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE:SPXC traded down $0.71 during trading on Wednesday, reaching $121.10. The stock had a trading volume of 50,133 shares, compared to its average volume of 229,423. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.77. The business has a fifty day moving average price of $118.09 and a 200-day moving average price of $102.35. The stock has a market cap of $5.60 billion, a PE ratio of 63.44, a PEG ratio of 1.35 and a beta of 1.25. SPX Technologies, Inc. has a 1-year low of $61.09 and a 1-year high of $124.81.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. The company had revenue of $469.40 million during the quarter, compared to analysts’ expectations of $481.98 million. SPX Technologies had a return on equity of 17.30% and a net margin of 5.16%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.17 EPS. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com cut SPX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Oppenheimer reiterated an “outperform” rating and set a $134.00 price target (up from $124.00) on shares of SPX Technologies in a research report on Thursday, March 28th. Finally, UBS Group lifted their price target on SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th.

Insider Activity

In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $115.48, for a total value of $3,123,503.04. Following the transaction, the chief executive officer now owns 597,936 shares of the company’s stock, valued at approximately $69,049,649.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the transaction, the chief executive officer now owns 597,936 shares of the company’s stock, valued at approximately $69,049,649.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Insiders have sold a total of 94,373 shares of company stock valued at $10,962,146 in the last quarter. Insiders own 3.53% of the company’s stock.

About SPX Technologies

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.