SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by KBC Group NV

KBC Group NV increased its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 2,109.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,617 shares of the company's stock after purchasing an additional 27,322 shares during the quarter. KBC Group NV owned 0.06% of SPX Technologies worth $4,164,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in shares of SPX Technologies by 26.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,407 shares of the company's stock worth $787,000 after acquiring an additional 1,137 shares during the period. Yarbrough Capital LLC boosted its position in SPX Technologies by 43.2% during the fourth quarter. Yarbrough Capital LLC now owns 7,072 shares of the company's stock worth $1,029,000 after purchasing an additional 2,135 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in SPX Technologies by 4.8% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 19,143 shares of the company's stock valued at $2,786,000 after purchasing an additional 883 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of SPX Technologies by 11.8% in the fourth quarter. Park Avenue Securities LLC now owns 4,414 shares of the company's stock valued at $642,000 after buying an additional 465 shares in the last quarter. Finally, Hilltop National Bank raised its stake in shares of SPX Technologies by 19.9% during the 4th quarter. Hilltop National Bank now owns 536 shares of the company's stock worth $78,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Trading Down 1.2 %

NYSE SPXC traded down $1.77 during mid-day trading on Monday, reaching $146.75. 465,008 shares of the stock were exchanged, compared to its average volume of 319,550. The business's fifty day simple moving average is $153.60 and its 200 day simple moving average is $155.37. 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 stock has a market capitalization of $6.80 billion, a PE ratio of 39.45, a PEG ratio of 1.35 and a beta of 1.30. SPX Technologies, Inc. has a 1-year low of $102.45 and a 1-year high of $183.83.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. UBS Group dropped their target price on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Sidoti downgraded SPX Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Finally, Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They set an "outperform" rating and a $199.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $168.50.

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.