222,217 Shares in SPX Technologies, Inc. (NYSE:SPXC) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 222,217 shares of the company's stock, valued at approximately $32,337,000. Raymond James Financial Inc. owned about 0.48% of SPX Technologies at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SPXC. Private Advisor Group LLC raised its stake in SPX Technologies by 1.0% during the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company's stock worth $1,007,000 after purchasing an additional 68 shares during the period. CIBC Asset Management Inc raised its holdings in shares of SPX Technologies by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,383 shares of the company's stock worth $201,000 after purchasing an additional 73 shares during the period. Assetmark Inc. lifted its position in SPX Technologies by 4.7% during the third quarter. Assetmark Inc. now owns 1,745 shares of the company's stock valued at $278,000 after buying an additional 78 shares in the last quarter. Hilltop National Bank raised its stake in shares of SPX Technologies by 19.9% in the 4th quarter. Hilltop National Bank now owns 536 shares of the company's stock valued at $78,000 after acquiring an additional 89 shares during the period. Finally, Allworth Financial LP boosted its position in SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after purchasing an additional 90 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

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SPX Technologies Stock Up 2.3 %

Shares of SPX Technologies stock traded up $3.02 on Friday, hitting $134.44. 197,753 shares of the company's stock traded hands, compared to its average volume of 255,315. SPX Technologies, Inc. has a 52-week low of $114.99 and a 52-week high of $183.83. 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 cap of $6.24 billion, a P/E ratio of 36.14, a PEG ratio of 1.33 and a beta of 1.26. The firm's 50-day moving average is $145.37 and its 200 day moving average is $154.35.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SPXC. Wolfe Research initiated coverage on SPX Technologies in a research note on Monday, November 25th. They set an "outperform" rating and a $199.00 price objective on the stock. UBS Group decreased their price target on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.75.

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.