Geneva Capital Management LLC Has $56.92 Million Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Geneva Capital Management LLC lowered its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 462,252 shares of the company’s stock after selling 3,555 shares during the period. Geneva Capital Management LLC owned approximately 1.00% of SPX Technologies worth $56,917,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of SPX Technologies during the 4th quarter worth about $48,528,000. Brown Advisory Inc. boosted its holdings in SPX Technologies by 416.7% in the fourth quarter. Brown Advisory Inc. now owns 435,596 shares of the company’s stock worth $44,000,000 after acquiring an additional 351,289 shares in the last quarter. Capital World Investors acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $29,121,000. Nordea Investment Management AB increased its holdings in shares of SPX Technologies by 160.6% during the first quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock valued at $47,069,000 after acquiring an additional 235,720 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of SPX Technologies by 86.8% during the first quarter. Principal Financial Group Inc. now owns 443,408 shares of the company’s stock worth $54,597,000 after purchasing an additional 206,054 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Up 4.0 %

Shares of SPXC traded up $5.92 during trading hours on Thursday, reaching $152.52. 327,134 shares of the stock traded hands, compared to its average volume of 241,962. SPX Technologies, Inc. has a 52 week low of $76.61 and a 52 week high of $153.65. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 71.50, a PEG ratio of 1.49 and a beta of 1.20. The stock has a fifty day simple moving average of $139.39 and a 200 day simple moving average of $121.02. 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 (NYSE:SPXC) last posted its earnings results on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.06 by $0.19. The firm had revenue of $465.20 million for the quarter, compared to analysts’ expectations of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 EPS. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group boosted 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, May 8th. William Blair restated an “outperform” rating on shares of SPX Technologies in a report on Friday, May 3rd. Oppenheimer lifted their price target on SPX Technologies from $134.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, StockNews.com downgraded SPX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th.

Insiders Place Their Bets

In other SPX Technologies news, insider J Randall Data sold 39,412 shares of the stock in a transaction 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 directly owns 52,657 shares of the company’s stock, valued at $7,576,815.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.