Cibc World Markets Corp Makes New Investment in SPX Technologies, Inc. (NYSE:SPXC)

Cibc World Markets Corp purchased a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,213 shares of the company's stock, valued at approximately $613,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of SPX Technologies by 666.7% in the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company's stock worth $94,169,000 after purchasing an additional 513,526 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of SPX Technologies in the 4th quarter worth approximately $32,337,000. Janus Henderson Group PLC increased its stake in shares of SPX Technologies by 45.3% during the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company's stock valued at $111,100,000 after buying an additional 217,316 shares during the period. Conestoga Capital Advisors LLC increased its stake in shares of SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after buying an additional 160,535 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SPX Technologies by 29.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company's stock valued at $99,408,000 after acquiring an additional 142,544 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Wall Street Analyst Weigh In

SPXC has been the topic of several recent analyst reports. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Wolfe Research began coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an "outperform" rating and a $199.00 target price on the stock. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Wednesday, February 26th. Finally, UBS Group cut their price objective on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $174.75.

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SPX Technologies Stock Up 0.1 %

Shares of NYSE:SPXC traded up $0.10 during midday trading on Tuesday, reaching $139.43. The company's stock had a trading volume of 162,908 shares, compared to its average volume of 257,127. SPX Technologies, Inc. has a 12-month low of $116.05 and a 12-month high of $183.83. The firm has a market capitalization of $6.47 billion, a P/E ratio of 37.48, a PEG ratio of 1.33 and a beta of 1.26. The firm has a 50 day moving average of $144.18 and a 200-day moving average of $153.33. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

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.