Wealthfront Advisers LLC Buys New Shares in SPX Technologies, Inc. (NYSE:SPXC)

Wealthfront Advisers LLC purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,867 shares of the company’s stock, valued at approximately $2,891,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC lifted its stake in SPX Technologies by 212.5% in the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock worth $3,786,000 after purchasing an additional 16,145 shares during the last quarter. Barclays PLC lifted its stake in shares of SPX Technologies by 299.0% in the 3rd 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 last quarter. Geode Capital Management LLC boosted its holdings in SPX Technologies by 0.9% during the 3rd 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. Corsair Capital Management L.P. grew its position in SPX Technologies by 80,185.2% during the 3rd quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock worth $18,179,000 after acquiring an additional 113,863 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in SPX Technologies by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock worth $53,203,000 after purchasing an additional 17,324 shares during the period. Institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SPXC. Wolfe Research assumed coverage on SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective for the company. UBS Group dropped their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Wednesday, February 26th. Finally, Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Stock Performance

NYSE:SPXC opened at $131.55 on Friday. 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’s fifty day simple moving average is $145.37 and its 200 day simple moving average is $154.35. The stock has a market cap of $6.10 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. SPX Technologies, Inc. has a twelve month low of $114.99 and a twelve month high of $183.83.

About SPX Technologies

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.