Zacks Investment Management Purchases Shares of 5,240 SPX Technologies, Inc. (NYSE:SPXC)

Zacks Investment Management purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 5,240 shares of the company's stock, valued at approximately $836,000.

Several other institutional investors have also modified their holdings of the company. Conestoga Capital Advisors LLC acquired a new position in SPX Technologies during the second quarter worth $51,070,000. Janus Henderson Group PLC raised its stake in shares of SPX Technologies by 45.3% during the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company's stock worth $111,100,000 after buying an additional 217,316 shares during the last quarter. Select Equity Group L.P. purchased a new stake in shares of SPX Technologies in the 2nd quarter worth about $24,904,000. Hood River Capital Management LLC grew its stake in SPX Technologies by 1,342.6% in the 2nd quarter. Hood River Capital Management LLC now owns 187,537 shares of the company's stock valued at $26,657,000 after acquiring an additional 174,537 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in SPX Technologies by 196.9% during the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company's stock valued at $34,921,000 after acquiring an additional 145,225 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analysts Set New Price Targets

SPXC has been the topic of several recent research reports. Sidoti downgraded shares of SPX Technologies from a "buy" rating to a "neutral" rating and reduced their price target for the company from $187.00 to $175.00 in a report on Friday. Wolfe Research started coverage on SPX Technologies in a research note on Monday, November 25th. They issued an "outperform" rating and a $199.00 target price on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $164.00.

SPX Technologies Trading Up 0.2 %

Shares of NYSE SPXC traded up $0.35 during midday trading on Tuesday, reaching $159.15. 224,474 shares of the stock were exchanged, compared to its average volume of 250,429. The stock has a 50 day moving average price of $164.92 and a 200-day moving average price of $153.72. 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 company has a market capitalization of $7.38 billion, a P/E ratio of 42.75, a P/E/G ratio of 1.59 and a beta of 1.26. SPX Technologies, Inc. has a 52-week low of $88.87 and a 52-week high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping 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 firm had revenue of $483.70 million during the quarter, compared to analysts' expectations of $501.02 million. During the same period in the previous year, the company earned $1.06 EPS. SPX Technologies's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

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.