NEOS Investment Management LLC Has $6.66 Million Holdings in SPX Technologies, Inc. $SPXC

NEOS Investment Management LLC reduced its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,637 shares of the company’s stock after selling 3,883 shares during the quarter. NEOS Investment Management LLC’s holdings in SPX Technologies were worth $6,656,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPXC. Kennedy Capital Management LLC grew its stake in shares of SPX Technologies by 271.0% during the 2nd quarter. Kennedy Capital Management LLC now owns 70,191 shares of the company’s stock worth $11,770,000 after acquiring an additional 51,273 shares during the period. Principal Financial Group Inc. lifted its holdings in SPX Technologies by 11.2% during the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock valued at $102,890,000 after purchasing an additional 55,482 shares during the last quarter. Moody Aldrich Partners LLC boosted its position in SPX Technologies by 18.8% during the third quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock worth $6,252,000 after purchasing an additional 5,290 shares during the period. Emerald Advisers LLC increased its stake in shares of SPX Technologies by 13.6% in the third quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock worth $28,672,000 after purchasing an additional 18,403 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of SPX Technologies by 37.5% in the third quarter. Assenagon Asset Management S.A. now owns 231,673 shares of the company’s stock valued at $43,272,000 after purchasing an additional 63,174 shares during the period. Institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SPXC. Bank of America raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $280.00 in a report on Friday, February 13th. B. Riley Financial reissued a “buy” rating and set a $244.00 price objective (up previously from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.29.

SPX Technologies Stock Down 0.1%

SPXC opened at $241.37 on Thursday. The business’s fifty day simple moving average is $215.20 and its 200 day simple moving average is $203.24. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $246.68. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The stock has a market cap of $12.03 billion, a PE ratio of 51.69, a P/E/G ratio of 1.66 and a beta of 1.32.

Insider Buying and Selling at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the sale, the insider owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.32% of the company’s stock.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.