Cibc World Markets Corp Makes New $613,000 Investment in SPX Technologies, Inc. (NYSE:SPXC)

Cibc World Markets Corp purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,213 shares of the company's stock, valued at approximately $613,000.

A number of other institutional investors have also recently modified their holdings of SPXC. CIBC Asset Management Inc acquired a new stake in SPX Technologies in the third quarter valued at $209,000. Natixis Advisors LLC increased its holdings in shares of SPX Technologies by 9.6% in the 3rd quarter. Natixis Advisors LLC now owns 22,192 shares of the company's stock valued at $3,539,000 after purchasing an additional 1,948 shares in the last quarter. Swiss National Bank lifted its stake in shares of SPX Technologies by 0.6% in the third quarter. Swiss National Bank now owns 90,318 shares of the company's stock valued at $14,402,000 after purchasing an additional 500 shares during the period. Pathstone Holdings LLC raised its holdings in SPX Technologies by 23.0% during the third quarter. Pathstone Holdings LLC now owns 9,955 shares of the company's stock worth $1,587,000 after purchasing an additional 1,861 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position 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 purchasing an additional 158 shares in the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

SPXC stock traded down $3.33 during trading on Wednesday, hitting $136.18. The stock had a trading volume of 143,632 shares, compared to its average volume of 256,270. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 36.61, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The company's 50 day moving average price is $144.18 and its two-hundred day moving average price is $153.33. SPX Technologies, Inc. has a 1-year low of $116.05 and a 1-year high of $183.83.

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Analyst Upgrades and Downgrades

SPXC has been the subject of a number of research analyst reports. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, UBS Group lowered their price target on shares of 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, SPX Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $174.75.

SPX Technologies Company 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.