Charles Schwab Investment Management Inc. Raises Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Charles Schwab Investment Management Inc. increased its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 29.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 623,405 shares of the company's stock after acquiring an additional 142,544 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.34% of SPX Technologies worth $99,408,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SPXC. Assetmark Inc. raised its stake in SPX Technologies by 4.7% in the third quarter. Assetmark Inc. now owns 1,745 shares of the company's stock valued at $278,000 after purchasing an additional 78 shares in the last quarter. Evergreen Capital Management LLC raised its stake in SPX Technologies by 4.3% in the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company's stock valued at $503,000 after purchasing an additional 146 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in SPX Technologies by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company's stock valued at $1,632,000 after purchasing an additional 158 shares in the last quarter. KBC Group NV raised its stake in SPX Technologies by 14.3% in the third quarter. KBC Group NV now owns 1,295 shares of the company's stock valued at $207,000 after purchasing an additional 162 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in SPX Technologies by 3.8% in the second quarter. Fifth Third Bancorp now owns 4,698 shares of the company's stock valued at $668,000 after purchasing an additional 174 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wolfe Research assumed coverage on shares of SPX Technologies in a research note on Monday. They issued an "outperform" rating and a $199.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $160.33.

SPX Technologies Stock Down 2.2 %

NYSE:SPXC traded down $3.98 during trading hours on Wednesday, reaching $175.00. 177,541 shares of the company traded hands, compared to its average volume of 249,612. SPX Technologies, Inc. has a 1 year low of $83.98 and a 1 year high of $183.83. The stock has a market capitalization of $8.11 billion, a P/E ratio of 47.04, a P/E/G ratio of 1.82 and a beta of 1.22. The business's 50-day moving average price is $163.27 and its two-hundred day moving average price is $151.98. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The company had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. During the same period in the prior year, the firm posted $1.06 EPS. SPX Technologies's revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that SPX Technologies, Inc. will post 5.56 earnings per share for the current year.

SPX Technologies 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.