Raymond James Financial Inc. Invests $32.34 Million in SPX Technologies, Inc. (NYSE:SPXC)

Raymond James Financial Inc. bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the fourth quarter, according to the company in its most recent disclosure 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 0.48% of SPX Technologies as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in SPX Technologies by 24.2% during the 3rd quarter. HighTower Advisors LLC now owns 6,651 shares of the company's stock valued at $1,058,000 after purchasing an additional 1,295 shares during the period. XTX Topco Ltd bought a new stake in shares of SPX Technologies in the third quarter valued at approximately $213,000. Public Employees Retirement System of Ohio grew its stake in shares of SPX Technologies by 471.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,537 shares of the company's stock worth $245,000 after acquiring an additional 1,268 shares during the last quarter. Barclays PLC increased its position in SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company's stock worth $13,485,000 after acquiring an additional 63,373 shares during the period. Finally, M&T Bank Corp raised its stake in SPX Technologies by 0.4% during the 3rd quarter. M&T Bank Corp now owns 37,541 shares of the company's stock valued at $5,986,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

NYSE:SPXC traded up $2.92 during trading hours on Tuesday, reaching $126.89. The company had a trading volume of 268,586 shares, compared to its average volume of 279,287. The firm has a market capitalization of $5.94 billion, a PE ratio of 34.11, a PEG ratio of 1.33 and a beta of 1.22. 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 50-day moving average of $135.01 and a two-hundred day moving average of $149.27. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research report on Wednesday, February 26th. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, 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 report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently 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.