SPX Technologies, Inc. (NYSE:SPXC) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB boosted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,583 shares of the company's stock after buying an additional 17,324 shares during the quarter. Nordea Investment Management AB owned approximately 0.79% of SPX Technologies worth $53,203,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in shares of SPX Technologies during the second quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in SPX Technologies during the 3rd quarter worth about $28,000. ST Germain D J Co. Inc. purchased a new position in SPX Technologies during the 3rd quarter valued at about $44,000. Farther Finance Advisors LLC raised its holdings in shares of SPX Technologies by 247.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock valued at $80,000 after purchasing an additional 357 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of SPX Technologies by 65.2% in the 3rd quarter. Signaturefd LLC now owns 542 shares of the company's stock worth $86,000 after purchasing an additional 214 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SPXC. UBS Group cut their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday. Sidoti lowered SPX Technologies from a "buy" rating to a "neutral" rating and reduced their price target 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 research report on Monday, November 25th. They set an "outperform" rating and a $199.00 price objective on the stock. Four equities 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, the company presently has an average rating of "Hold" and a consensus price target of $168.50.

SPX Technologies Stock Up 0.3 %

NYSE SPXC traded up $0.45 on Wednesday, hitting $142.95. The stock had a trading volume of 343,027 shares, compared to its average volume of 285,005. The business's fifty day moving average price is $159.15 and its 200 day moving average price is $155.30. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies, Inc. has a 52-week low of $95.00 and a 52-week high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $501.02 million. During the same period in the previous year, the business earned $1.06 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.56 earnings per share for the current 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.