SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Algert Global LLC

Algert Global LLC grew its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 36.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,463 shares of the company's stock after purchasing an additional 4,393 shares during the period. Algert Global LLC's holdings in SPX Technologies were worth $2,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its position 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 in the last quarter. Empowered Funds LLC acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $27,000. Skandinaviska Enskilda Banken AB publ grew its holdings in SPX Technologies by 2,055.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after acquiring an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in shares of SPX Technologies during the fourth quarter worth $57,000. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Performance

NYSE SPXC traded down $0.51 during trading hours on Friday, hitting $148.85. The company had a trading volume of 198,734 shares, compared to its average volume of 277,717. The business has a 50 day moving average of $134.04 and a 200-day moving average of $147.03. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83. The company has a market cap of $6.95 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.16 by $0.22. The company had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, equities research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analysts Set New Price Targets

SPXC has been the topic of a number of analyst reports. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Wednesday, February 26th. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, SPX Technologies has a consensus rating of "Moderate Buy" and an average price target of $174.75.

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.