TD Waterhouse Canada Inc. Purchases 3,195 Shares of SPX Technologies, Inc. $SPXC

TD Waterhouse Canada Inc. grew its position in SPX Technologies, Inc. (NYSE:SPXC) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,176 shares of the company’s stock after purchasing an additional 3,195 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.06% of SPX Technologies worth $4,881,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. grew its holdings in SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SPX Technologies in the second quarter valued at about $31,000. Financial Consulate Inc. bought a new position in SPX Technologies during the third quarter worth about $34,000. MAI Capital Management raised its stake in SPX Technologies by 80.9% in the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock worth $35,000 after purchasing an additional 93 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in SPX Technologies in the 3rd quarter valued at about $42,000. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider J Randall Data sold 12,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the sale, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This trade represents a 37.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.32% of the company’s stock.

SPX Technologies Stock Down 1.7%

NYSE SPXC opened at $208.31 on Friday. The business has a fifty day moving average price of $210.99 and a two-hundred day moving average price of $198.67. The stock has a market capitalization of $10.38 billion, a PE ratio of 44.61, a PEG ratio of 1.77 and a beta of 1.33. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $233.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.24. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The company had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. During the same quarter last year, the company posted $1.39 EPS. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPXC has been the topic of several recent research reports. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Bank of America assumed coverage on SPX Technologies in a research note on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Truist Financial lifted their price objective on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Finally, Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.14.

About SPX Technologies

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.