Envestnet Portfolio Solutions Inc. Grows Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Envestnet Portfolio Solutions Inc. boosted its position in SPX Technologies, Inc. (NYSE:SPXC) by 111.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,281 shares of the company’s stock after buying an additional 2,253 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in SPX Technologies were worth $609,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in SPX Technologies during the 2nd quarter worth approximately $39,000. YHB Investment Advisors Inc. purchased a new stake in shares of SPX Technologies in the first quarter valued at approximately $51,000. GAMMA Investing LLC grew its holdings in SPX Technologies by 122.6% during the second quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock worth $60,000 after acquiring an additional 233 shares during the period. Palisade Asset Management LLC purchased a new position in SPX Technologies in the first quarter worth $74,000. Finally, TFO Wealth Partners LLC lifted its holdings in SPX Technologies by 58,400.0% in the fourth 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 institutional investors and hedge funds.

Insider Transactions at SPX Technologies

In related 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 sale, the insider now owns 52,657 shares of the company’s stock, valued at $7,576,815.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.53% of the company’s stock.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of research analyst reports. StockNews.com downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. UBS Group increased their target price on shares of SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Oppenheimer lowered SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a research note on Friday, May 3rd.

SPX Technologies Stock Performance

NYSE:SPXC opened at $152.20 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $7.05 billion, a P/E ratio of 74.24, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The firm has a 50-day moving average price of $146.12 and a two-hundred day moving average price of $131.12. SPX Technologies, Inc. has a twelve month low of $76.61 and a twelve month high of $164.91.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, topping 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 business had revenue of $501.30 million during the quarter, compared to analysts’ expectations of $492.08 million. During the same period last year, the company posted $1.06 EPS. The company’s revenue was up 18.4% on a year-over-year basis. As a group, research analysts expect that SPX Technologies, Inc. will post 5.54 earnings per share for the current fiscal year.

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.