Oppenheimer Asset Management Inc. Has $3.74 Million Stock Holdings in SPX Technologies, Inc. $SPXC

Oppenheimer Asset Management Inc. boosted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 29.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,999 shares of the company’s stock after purchasing an additional 4,592 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SPX Technologies were worth $3,735,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of SPX Technologies during the 2nd quarter worth about $97,223,000. AustralianSuper Pty Ltd acquired a new position in SPX Technologies in the third quarter worth approximately $41,092,000. Invesco Ltd. raised its position in SPX Technologies by 22.3% during the second quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock valued at $194,035,000 after acquiring an additional 210,682 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in SPX Technologies in the second quarter valued at approximately $19,817,000. Finally, Franklin Resources Inc. lifted its stake in SPX Technologies by 33.3% in the second quarter. Franklin Resources Inc. now owns 301,284 shares of the company’s stock valued at $50,519,000 after acquiring an additional 75,263 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 1.1%

SPX Technologies stock opened at $233.81 on Thursday. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $237.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. The firm has a market capitalization of $11.65 billion, a PE ratio of 50.07, a PEG ratio of 1.93 and a beta of 1.32. The business’s 50-day simple moving average is $212.37 and its 200-day simple moving average is $201.35.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SPXC shares. Truist Financial raised their price target on shares of SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, 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 report on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.14.

Insiders Place Their Bets

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 38,020 shares in the company, valued at $8,188,367.40. This trade represents a 23.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 64,266 shares of the company’s stock, valued at $13,243,294.62. This represents a 37.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.32% of the company’s stock.

SPX Technologies 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.