SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. increased its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 16.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,195 shares of the company’s stock after purchasing an additional 459 shares during the period. Raymond James Trust N.A.’s holdings in SPX Technologies were worth $509,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of SPX Technologies by 4.7% in the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after purchasing an additional 78 shares during the last quarter. Evergreen Capital Management LLC lifted its position in SPX Technologies by 4.3% in the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock valued at $503,000 after buying an additional 146 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in SPX Technologies by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock worth $1,632,000 after buying an additional 158 shares during the period. KBC Group NV increased its position in shares of SPX Technologies by 14.3% during the third quarter. KBC Group NV now owns 1,295 shares of the company’s stock valued at $207,000 after acquiring an additional 162 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of SPX Technologies by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock valued at $668,000 after acquiring an additional 174 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wolfe Research began coverage on shares of SPX Technologies in a report on Monday. They issued an “outperform” rating and a $199.00 target price for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $160.33.

SPX Technologies Stock Performance

NYSE SPXC opened at $178.98 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The company has a market cap of $8.30 billion, a P/E ratio of 48.11, a P/E/G ratio of 1.76 and a beta of 1.22. The stock has a 50-day moving average of $162.86 and a two-hundred day moving average of $151.82. SPX Technologies, Inc. has a 1-year low of $83.98 and a 1-year 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 for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. As a group, analysts anticipate that SPX Technologies, Inc. will post 5.56 EPS for the current year.

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.