SPX Technologies, Inc. (NYSE:SPXC) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,033,825 shares of the company's stock after buying an additional 8,916 shares during the quarter. Geode Capital Management LLC owned about 2.23% of SPX Technologies worth $164,888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SPXC. Crewe Advisors LLC acquired a new stake in SPX Technologies in the second quarter worth approximately $28,000. Canada Pension Plan Investment Board acquired a new stake in shares of SPX Technologies in the second quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in SPX Technologies during the third quarter valued at about $28,000. UMB Bank n.a. grew its holdings in SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company's stock worth $30,000 after acquiring an additional 193 shares during the period. Finally, ST Germain D J Co. Inc. bought a new stake in SPX Technologies in the third quarter worth about $44,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 0.6 %

Shares of SPXC traded up $0.94 during midday trading on Monday, hitting $156.47. The stock had a trading volume of 179,951 shares, compared to its average volume of 250,082. SPX Technologies, Inc. has a fifty-two week low of $94.28 and a fifty-two week high of $183.83. The business has a 50-day simple moving average of $164.82 and a two-hundred day simple moving average of $154.18. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a market cap of $7.25 billion, a P/E ratio of 41.81, a price-to-earnings-growth ratio of 1.55 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPXC. Sidoti lowered shares of SPX Technologies from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $187.00 to $175.00 in a research report on Friday, December 6th. Wolfe Research assumed coverage on shares of SPX Technologies in a report on Monday, November 25th. They set an "outperform" rating and a $199.00 target price for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $164.00.

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.