Lisanti Capital Growth LLC Decreases Stake in SPX Technologies, Inc. (NYSE:SPXC)

Lisanti Capital Growth LLC trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 48.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 52,865 shares of the company’s stock after selling 49,865 shares during the quarter. SPX Technologies comprises approximately 1.3% of Lisanti Capital Growth LLC’s portfolio, making the stock its 22nd biggest position. Lisanti Capital Growth LLC’s holdings in SPX Technologies were worth $5,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MCF Advisors LLC purchased a new position in shares of SPX Technologies during the fourth quarter valued at approximately $173,000. Segment Wealth Management LLC bought a new position in shares of SPX Technologies during the 4th quarter valued at $202,000. Cerity Partners LLC purchased a new position in shares of SPX Technologies in the 4th quarter worth $204,000. Cornerstone Investment Partners LLC bought a new stake in shares of SPX Technologies in the fourth quarter worth $213,000. Finally, Raymond James Trust N.A. purchased a new stake in SPX Technologies during the fourth quarter valued at $233,000. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

SPXC has been the topic of several research reports. StockNews.com raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Friday. 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. Finally, UBS Group increased their price target on shares of SPX Technologies from $90.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th.

Insider Transactions at SPX Technologies

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 27,048 shares of the firm’s 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 sale, the chief executive officer now directly owns 597,936 shares of the company’s stock, valued at $69,049,649.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 completion of the sale, the chief executive officer now owns 597,936 shares in the company, valued at $69,049,649.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $3,801,743.25. Following the completion of the transaction, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The disclosure for this sale can be found here. Insiders sold a total of 94,373 shares of company stock valued at $10,962,146 over the last three months. Corporate insiders own 3.53% of the company’s stock.

SPX Technologies Stock Performance

NYSE:SPXC traded up $3.33 during mid-day trading on Monday, hitting $134.27. 438,301 shares of the company traded hands, compared to its average volume of 239,506. The stock’s fifty day moving average price is $119.49 and its 200-day moving average price is $103.68. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. SPX Technologies, Inc. has a one year low of $70.84 and a one year high of $135.90. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 65.50, a price-to-earnings-growth ratio of 1.35 and a beta of 1.24.

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

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.