CreativeOne Wealth LLC Takes $1.24 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

CreativeOne Wealth LLC acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,780 shares of the company's stock, valued at approximately $1,241,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in SPX Technologies by 4.7% during the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company's stock valued at $278,000 after purchasing an additional 78 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of SPX Technologies by 4.3% during the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company's stock worth $503,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. boosted its position in SPX Technologies by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company's stock valued at $1,632,000 after buying an additional 158 shares during the last quarter. KBC Group NV increased its holdings 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 buying an additional 162 shares during the period. Finally, Fifth Third Bancorp raised its position in SPX Technologies by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 4,698 shares of the company's stock worth $668,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

Separately, Wolfe Research assumed coverage on shares of SPX Technologies in a report on Monday, November 25th. They issued an "outperform" rating and a $199.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, SPX Technologies currently has an average rating of "Hold" and an average price target of $160.33.

SPX Technologies Stock Performance

SPXC traded up $1.44 on Friday, reaching $176.44. The stock had a trading volume of 122,098 shares, compared to its average volume of 249,059. The business's 50-day moving average price is $163.78 and its two-hundred day moving average price is $152.40. The company has a market cap of $8.18 billion, a P/E ratio of 47.43, a price-to-earnings-growth ratio of 1.75 and a beta of 1.22. SPX Technologies, Inc. has a 12-month low of $84.62 and a 12-month high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

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

SPX Technologies 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.