SPX Technologies, Inc. (NYSE:SPXC) Holdings Raised by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 188.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,531 shares of the company's stock after purchasing an additional 8,186 shares during the quarter. Franklin Resources Inc.'s holdings in SPX Technologies were worth $2,127,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SPXC. Bank of New York Mellon Corp grew its stake in shares of SPX Technologies by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company's stock valued at $56,516,000 after buying an additional 8,931 shares during the period. Panagora Asset Management Inc. acquired a new stake in SPX Technologies during the second quarter valued at approximately $4,236,000. UMB Bank n.a. raised its position in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company's stock valued at $30,000 after acquiring an additional 193 shares in the last quarter. Crewe Advisors LLC bought a new position in SPX Technologies in the second quarter worth about $28,000. Finally, Principal Financial Group Inc. lifted its stake in SPX Technologies by 17.4% in the second quarter. Principal Financial Group Inc. now owns 520,416 shares of the company's stock valued at $73,972,000 after buying an additional 77,008 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPXC. Wolfe Research assumed coverage on SPX Technologies in a research note on Monday, November 25th. They issued an "outperform" rating and a $199.00 price target for the company. Sidoti lowered shares of SPX Technologies from a "buy" rating to a "neutral" rating and decreased their target price for the company from $187.00 to $175.00 in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SPX Technologies has an average rating of "Hold" and an average price target of $164.00.

SPX Technologies Price Performance

Shares of SPXC stock traded down $1.70 during mid-day trading on Friday, hitting $145.96. 133,628 shares of the stock traded hands, compared to its average volume of 251,077. 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 firm has a market cap of $6.77 billion, a price-to-earnings ratio of 39.24, a price-to-earnings-growth ratio of 1.55 and a beta of 1.26. The company's 50-day simple moving average is $160.94 and its 200-day simple moving average is $154.73. SPX Technologies, Inc. has a twelve month low of $95.00 and a twelve month high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $501.02 million. During the same period in the previous year, the company earned $1.06 earnings per share. SPX Technologies's revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect 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.