Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,957 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,362 shares of the company's stock after buying an additional 1,957 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in SPX Technologies were worth $1,799,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after purchasing an additional 90 shares during the period. Empowered Funds LLC bought a new position in shares of SPX Technologies during the 4th quarter worth about $27,000. Spire Wealth Management bought a new position in shares of SPX Technologies during the 4th quarter worth about $57,000. Hilltop National Bank lifted its holdings in shares of SPX Technologies by 19.9% during the 4th quarter. Hilltop National Bank now owns 536 shares of the company's stock worth $78,000 after acquiring an additional 89 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of SPX Technologies by 334.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 760 shares of the company's stock worth $109,000 after acquiring an additional 585 shares during the period. 92.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPXC has been the subject of a number of recent analyst reports. UBS Group dropped their target price on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Wednesday, February 26th. Finally, Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an "outperform" rating and a $199.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.75.

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SPX Technologies Price Performance

Shares of NYSE SPXC traded down $1.47 during trading on Friday, reaching $134.10. The company had a trading volume of 699,232 shares, compared to its average volume of 257,266. SPX Technologies, Inc. has a 52 week low of $116.05 and a 52 week high of $183.83. The stock has a market cap of $6.22 billion, a PE ratio of 36.05, a PEG ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The business's 50 day moving average price is $144.39 and its 200-day moving average price is $153.51.

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.