Tidal Investments LLC Raises Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Tidal Investments LLC lifted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,026 shares of the company’s stock after buying an additional 188 shares during the quarter. Tidal Investments LLC’s holdings in SPX Technologies were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SPXC. Raymond James & Associates lifted its holdings in SPX Technologies by 69.9% during the second quarter. Raymond James & Associates now owns 43,786 shares of the company’s stock valued at $6,224,000 after purchasing an additional 18,009 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of SPX Technologies by 27.6% during the 2nd quarter. Raymond James Trust N.A. now owns 2,736 shares of the company’s stock valued at $389,000 after purchasing an additional 592 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of SPX Technologies by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company’s stock valued at $56,516,000 after buying an additional 8,931 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new position in shares of SPX Technologies during the 2nd quarter valued at $51,070,000. Finally, Panagora Asset Management Inc. bought a new position in SPX Technologies in the 2nd quarter worth $4,236,000. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Trading Up 0.2 %

Shares of SPX Technologies stock opened at $143.55 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 1.55 and a beta of 1.26. SPX Technologies, Inc. has a twelve month low of $95.00 and a twelve month high of $183.83. The business has a 50-day moving average price of $163.21 and a 200-day moving average price of $154.56.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The business had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 EPS. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

Analysts Set New Price Targets

SPXC has been the topic of several research analyst reports. Wolfe Research began coverage on SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock. Sidoti cut SPX Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $187.00 to $175.00 in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $164.00.

SPX Technologies 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.