SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Barclays PLC

Barclays PLC grew its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 299.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,567 shares of the company's stock after purchasing an additional 63,373 shares during the period. Barclays PLC owned about 0.18% of SPX Technologies worth $13,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its stake in SPX Technologies by 195.2% in the 2nd quarter. American Century Companies Inc. now owns 14,492 shares of the company's stock worth $2,060,000 after buying an additional 9,582 shares during the period. Victory Capital Management Inc. increased its position in shares of SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company's stock worth $10,485,000 after acquiring an additional 10,010 shares during the period. Dana Investment Advisors Inc. bought a new stake in shares of SPX Technologies during the second quarter valued at approximately $855,000. Mutual of America Capital Management LLC boosted its holdings in shares of SPX Technologies by 212.5% in the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company's stock valued at $3,786,000 after purchasing an additional 16,145 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in SPX Technologies by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company's stock worth $56,516,000 after purchasing an additional 8,931 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wolfe Research started coverage on SPX Technologies in a research report on Monday, November 25th. They set an "outperform" rating and a $199.00 target price for the company. Sidoti lowered SPX Technologies from a "buy" rating to a "neutral" rating and cut their price target for the company from $187.00 to $175.00 in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $164.00.

SPX Technologies Stock Up 0.6 %

NYSE:SPXC traded up $0.94 during trading hours on Monday, reaching $156.47. The company's stock had a trading volume of 179,951 shares, compared to its average volume of 250,082. The stock has a 50 day moving average price of $164.72 and a two-hundred day moving average price of $154.30. 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 has a market capitalization of $7.25 billion, a P/E ratio of 42.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.26. SPX Technologies, Inc. has a 12 month low of $94.28 and a 12 month high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. During the same period in the previous year, the company posted $1.06 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts predict that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

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.