Clearbridge Investments LLC Sells 12,500 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Clearbridge Investments LLC lowered its stake in SPX Technologies, Inc. (NYSE:SPXC) by 19.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,385 shares of the company’s stock after selling 12,500 shares during the period. Clearbridge Investments LLC owned 0.12% of SPX Technologies worth $5,392,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in shares of SPX Technologies by 54.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock worth $135,000 after acquiring an additional 475 shares in the last quarter. MCF Advisors LLC bought a new position in shares of SPX Technologies in the 4th quarter worth about $173,000. Segment Wealth Management LLC bought a new position in shares of SPX Technologies in the 4th quarter worth about $202,000. Cerity Partners LLC bought a new position in shares of SPX Technologies in the 4th quarter worth about $204,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of SPX Technologies in the 4th quarter worth about $213,000. Institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

SPX Technologies Stock Performance

SPXC opened at $144.34 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 70.41, a PEG ratio of 1.50 and a beta of 1.24. The company’s 50 day moving average is $126.48 and its 200 day moving average is $109.37. SPX Technologies, Inc. has a 12-month low of $75.61 and a 12-month high of $144.73.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data 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 net margin of 5.32% and a return on equity of 18.18%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. On average, equities research analysts predict that SPX Technologies, Inc. will post 5.36 EPS for the current year.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the sale, the insider now 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 hyperlink. In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 27,048 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 owns 597,936 shares in the company, valued at approximately $69,049,649.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the firm’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 sale, the insider now owns 82,884 shares in the company, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,373 shares of company stock worth $10,962,146. Company insiders own 3.53% of the company’s stock.

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.