PFG Advisors Makes New Investment in SPX Technologies, Inc. (NYSE:SPXC)

PFG Advisors bought a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,924 shares of the company's stock, valued at approximately $280,000.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of SPX Technologies by 666.7% during the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company's stock valued at $94,169,000 after acquiring an additional 513,526 shares during the period. Raymond James Financial Inc. purchased a new position in SPX Technologies during the 4th quarter worth approximately $32,337,000. Janus Henderson Group PLC raised its stake in SPX Technologies by 45.3% during the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company's stock valued at $111,100,000 after purchasing an additional 217,316 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of SPX Technologies by 25.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after purchasing an additional 160,535 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of SPX Technologies by 196.9% in the third quarter. Victory Capital Management Inc. now owns 218,993 shares of the company's stock worth $34,921,000 after buying an additional 145,225 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group reduced their price objective on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Wolfe Research assumed coverage on shares of SPX Technologies in a research report on Monday, November 25th. They issued an "outperform" rating and a $199.00 price target for the company. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Wednesday, February 26th. Finally, Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.75.

Remove Ads

SPX Technologies Stock Up 1.3 %

Shares of NYSE SPXC traded up $1.71 during trading hours on Monday, hitting $135.97. The stock had a trading volume of 69,308 shares, compared to its average volume of 253,806. The company has a market capitalization of $6.31 billion, a P/E ratio of 36.55, a P/E/G ratio of 1.33 and a beta of 1.26. The firm's 50-day moving average price is $145.06 and its two-hundred day moving average price is $154.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a 52 week low of $116.05 and a 52 week high of $183.83.

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.