Wealthfront Advisers LLC Invests $2.89 Million in SPX Technologies, Inc. (NYSE:SPXC)

Wealthfront Advisers LLC purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 19,867 shares of the company's stock, valued at approximately $2,891,000.

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of SPX Technologies by 18.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,362 shares of the company's stock worth $1,799,000 after buying an additional 1,957 shares during the last quarter. Amundi boosted its stake in shares of SPX Technologies by 106.8% in the fourth quarter. Amundi now owns 29,051 shares of the company's stock worth $4,160,000 after buying an additional 15,006 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of SPX Technologies in the fourth quarter worth about $32,337,000. Arizona State Retirement System raised its holdings in SPX Technologies by 0.9% in the 4th quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock worth $1,955,000 after purchasing an additional 123 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in SPX Technologies by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 625,361 shares of the company's stock worth $91,003,000 after purchasing an additional 1,956 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

Shares of NYSE:SPXC traded up $3.02 during midday trading on Friday, hitting $134.44. The company had a trading volume of 197,753 shares, compared to its average volume of 255,315. SPX Technologies, Inc. has a twelve month low of $114.99 and a twelve month high of $183.83. 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 stock 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 business's 50-day simple moving average is $145.06 and its 200-day simple moving average is $154.18.

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Wall Street Analysts Forecast Growth

SPXC has been the subject of a number of analyst reports. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. UBS Group reduced their price target on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a report on Wednesday, February 26th. Finally, Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They set an "outperform" rating and a $199.00 target price for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $174.75.

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.