Conestoga Capital Advisors LLC Acquires 160,535 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Conestoga Capital Advisors LLC grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 787,795 shares of the company's stock after acquiring an additional 160,535 shares during the period. Conestoga Capital Advisors LLC owned 1.70% of SPX Technologies worth $114,640,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPXC. V Square Quantitative Management LLC acquired a new position in shares of SPX Technologies during the 3rd quarter worth $28,000. ST Germain D J Co. Inc. acquired a new position in SPX Technologies during the third quarter worth $44,000. Spire Wealth Management bought a new position in SPX Technologies during the fourth quarter valued at about $57,000. Hilltop National Bank raised its holdings in SPX Technologies by 19.9% during the fourth quarter. Hilltop National Bank now owns 536 shares of the company's stock valued at $78,000 after buying an additional 89 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of SPX Technologies by 247.9% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock worth $80,000 after buying an additional 357 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPXC has been the topic of a number of recent analyst reports. UBS Group cut their price objective on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Sidoti downgraded shares of SPX Technologies from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $187.00 to $175.00 in a report on Friday, December 6th. Finally, Wolfe Research started coverage on shares of SPX Technologies in a report on Monday, November 25th. They issued an "outperform" rating and a $199.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $168.50.

SPX Technologies Stock Performance

SPX Technologies stock traded down $0.81 during mid-day trading on Thursday, reaching $152.22. The company had a trading volume of 163,660 shares, compared to its average volume of 304,919. The company has a 50 day moving average of $151.86 and a 200-day moving average of $155.40. SPX Technologies, Inc. has a 52 week low of $103.11 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 firm has a market cap of $7.06 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 1.35 and a beta of 1.29.

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.