Intech Investment Management LLC Buys 5,941 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Intech Investment Management LLC grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 129.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,518 shares of the company's stock after purchasing an additional 5,941 shares during the period. Intech Investment Management LLC's holdings in SPX Technologies were worth $1,677,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC purchased a new position in SPX Technologies during the 1st quarter valued at about $349,000. Bayesian Capital Management LP purchased a new position in SPX Technologies during the 1st quarter valued at about $358,000. Kennedy Capital Management LLC lifted its position in SPX Technologies by 5.6% during the 1st quarter. Kennedy Capital Management LLC now owns 32,868 shares of the company's stock valued at $4,047,000 after acquiring an additional 1,752 shares during the period. Interval Partners LP lifted its position in SPX Technologies by 8.0% during the 1st quarter. Interval Partners LP now owns 38,385 shares of the company's stock valued at $4,726,000 after acquiring an additional 2,841 shares during the period. Finally, GAMMA Investing LLC lifted its position in SPX Technologies by 122.6% during the 2nd quarter. GAMMA Investing LLC now owns 423 shares of the company's stock valued at $60,000 after acquiring an additional 233 shares during the period. Institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

Separately, Wolfe Research started coverage on shares of SPX Technologies in a research report on Monday. They set an "outperform" rating and a $199.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SPX Technologies has an average rating of "Hold" and an average price target of $160.33.

SPX Technologies Stock Down 1.4 %

SPX Technologies stock traded down $2.58 during trading hours on Tuesday, hitting $178.98. The stock had a trading volume of 324,598 shares, compared to its average volume of 249,924. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $8.30 billion, a P/E ratio of 48.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22. SPX Technologies, Inc. has a 12-month low of $83.98 and a 12-month high of $183.83. The stock's 50-day moving average price is $162.86 and its 200-day moving average price is $151.82.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $483.70 million during the quarter, compared to analysts' expectations of $501.02 million. During the same period in the previous year, the company earned $1.06 earnings per share. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate 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.