Wealthfront Advisers LLC bought a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 19,867 shares of the company's stock, valued at approximately $2,891,000.
A number of other hedge funds also recently added to or reduced their stakes in SPXC. Assetmark Inc. lifted its stake in SPX Technologies by 4.7% in the third quarter. Assetmark Inc. now owns 1,745 shares of the company's stock valued at $278,000 after buying an additional 78 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in SPX Technologies by 13.6% during the third quarter. Crossmark Global Holdings Inc. now owns 3,655 shares of the company's stock worth $583,000 after acquiring an additional 438 shares during the period. Victory Capital Management Inc. grew its holdings in SPX Technologies by 196.9% during the third quarter. Victory Capital Management Inc. now owns 218,993 shares of the company's stock worth $34,921,000 after acquiring an additional 145,225 shares during the period. Cable Hill Partners LLC acquired a new position in SPX Technologies during the third quarter worth about $227,000. Finally, KBC Group NV increased its stake in SPX Technologies by 14.3% in the 3rd quarter. KBC Group NV now owns 1,295 shares of the company's stock worth $207,000 after purchasing an additional 162 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the company. UBS Group dropped their price target on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Wednesday, February 26th. Wolfe Research initiated coverage on SPX Technologies in a research note on Monday, November 25th. They set an "outperform" rating and a $199.00 target price on the stock. Finally, Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.75.
Get Our Latest Research Report on SPXC
SPX Technologies Stock Up 2.3 %
Shares of SPX Technologies stock traded up $3.02 during midday trading on Friday, reaching $134.44. 197,753 shares of the company's stock traded hands, compared to its average volume of 254,529. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company's 50 day simple moving average is $145.06 and its 200 day simple moving average is $154.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a 52 week low of $116.05 and a 52 week high of $183.83.
About SPX Technologies
(
Free Report)
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.
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