Park Avenue Securities LLC Buys 465 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Park Avenue Securities LLC raised its stake in SPX Technologies, Inc. (NYSE:SPXC) by 11.8% during the 4th quarter, Holdings Channel reports. The fund owned 4,414 shares of the company’s stock after acquiring an additional 465 shares during the period. Park Avenue Securities LLC’s holdings in SPX Technologies were worth $642,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of SPX Technologies by 195.2% during the second quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock worth $2,060,000 after purchasing an additional 9,582 shares during the period. Dana Investment Advisors Inc. bought a new position in SPX Technologies during the 2nd quarter worth $855,000. Mutual of America Capital Management LLC increased its position in SPX Technologies by 212.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock worth $3,786,000 after buying an additional 16,145 shares during the period. Barclays PLC boosted its position in shares of SPX Technologies by 299.0% in the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after acquiring an additional 63,373 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of SPX Technologies by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after acquiring an additional 8,916 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Price Performance

SPXC stock opened at $153.20 on Thursday. The company’s 50-day moving average price is $156.64 and its two-hundred day moving average price is $155.54. The firm has a market cap of $7.10 billion, a P/E ratio of 41.18, a P/E/G ratio of 1.35 and a beta of 1.30. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 12 month low of $100.59 and a 12 month high of $183.83.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. During the same period last year, the firm posted $1.06 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPXC has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $187.00 to $175.00 in a report on Friday, December 6th. Finally, UBS Group cut their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $168.50.

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.