9,400 Shares in SPX Technologies, Inc. (NYSE:SPXC) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 9,400 shares of the company's stock, valued at approximately $1,368,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPXC. Barclays PLC raised its holdings in SPX Technologies by 299.0% in the third quarter. Barclays PLC now owns 84,567 shares of the company's stock valued at $13,485,000 after acquiring an additional 63,373 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company's stock valued at $164,888,000 after purchasing an additional 8,916 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of SPX Technologies by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 365,583 shares of the company's stock worth $53,203,000 after purchasing an additional 17,324 shares during the last quarter. M&T Bank Corp grew its stake in SPX Technologies by 0.4% in the third quarter. M&T Bank Corp now owns 37,541 shares of the company's stock worth $5,986,000 after purchasing an additional 160 shares in the last quarter. Finally, KBC Group NV increased its holdings in SPX Technologies by 2,109.8% in the fourth quarter. KBC Group NV now owns 28,617 shares of the company's stock valued at $4,164,000 after buying an additional 27,322 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

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SPX Technologies Stock Performance

SPXC stock traded down $10.72 during trading on Thursday, reaching $124.90. 53,079 shares of the company's stock were exchanged, compared to its average volume of 271,326. The company's fifty day moving average price is $142.09 and its 200-day moving average price is $152.73. The firm has a market cap of $5.79 billion, a PE ratio of 33.58, a P/E/G ratio of 1.33 and a beta of 1.26. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 1-year low of $116.05 and a 1-year high of $183.83.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several recent research reports. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. UBS Group dropped their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SPX Technologies has a consensus rating of "Moderate Buy" and an average target price of $174.75.

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.