BNP Paribas Financial Markets Takes $1.32 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

BNP Paribas Financial Markets purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,076 shares of the company's stock, valued at approximately $1,321,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after buying an additional 90 shares during the last quarter. Empowered Funds LLC acquired a new stake in SPX Technologies during the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SPX Technologies by 377.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after purchasing an additional 185 shares during the period. Finally, Covestor Ltd lifted its stake in shares of SPX Technologies by 313.8% in the 4th quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after purchasing an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Upgrades and Downgrades

SPXC has been the subject of a number of research analyst reports. B. Riley started coverage on SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 price target for the company. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, Oppenheimer raised shares of 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. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, SPX Technologies presently has a consensus rating of "Buy" and a consensus target price of $178.80.

SPX Technologies Stock Up 0.1%

Shares of SPXC traded up $0.11 during mid-day trading on Friday, hitting $149.94. 170,215 shares of the company's stock were exchanged, compared to its average volume of 304,935. The stock's 50-day moving average is $137.47 and its 200-day moving average is $147.13. 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 fifty-two week low of $115.00 and a fifty-two week high of $183.83. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 9.11% and a return on equity of 19.70%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

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.