Venturi Wealth Management LLC Takes Position in SPX Technologies, Inc. (NYSE:SPXC)

Venturi Wealth Management LLC purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,275 shares of the company’s stock, valued at approximately $331,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPXC. JPMorgan Chase & Co. raised its holdings in shares of SPX Technologies by 666.7% during the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after acquiring an additional 513,526 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of SPX Technologies by 74.6% during the third quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock worth $100,023,000 after purchasing an additional 267,965 shares in the last quarter. Janus Henderson Group PLC raised its stake in SPX Technologies by 45.3% in the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after purchasing an additional 217,316 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in SPX Technologies by 196.9% in the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock valued at $34,921,000 after purchasing an additional 145,225 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in SPX Technologies by 29.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company’s stock worth $99,408,000 after purchasing an additional 142,544 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Down 1.7 %

Shares of SPXC opened at $146.54 on Friday. SPX Technologies, Inc. has a 12-month low of $103.11 and a 12-month high of $183.83. The firm has a market capitalization of $6.79 billion, a P/E ratio of 39.39, a P/E/G ratio of 1.37 and a beta of 1.29. The firm has a 50-day moving average price of $148.29 and a 200 day moving average price of $155.63. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

Wall Street Analysts Forecast Growth

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

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.