Palisades Investment Partners LLC Grows Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Palisades Investment Partners LLC boosted its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,097 shares of the company's stock after buying an additional 10,109 shares during the period. SPX Technologies makes up 6.9% of Palisades Investment Partners LLC's holdings, making the stock its 2nd biggest holding. Palisades Investment Partners LLC owned about 0.24% of SPX Technologies worth $16,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP lifted its holdings in SPX Technologies by 123.3% in the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after buying an additional 90 shares during the period. Empowered Funds LLC acquired a new position in SPX Technologies in the fourth quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock valued at $29,000 after buying an additional 151 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings 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 buying an additional 185 shares during the period. Finally, Covestor Ltd raised its holdings in shares of SPX Technologies by 313.8% during the fourth quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after purchasing an additional 295 shares during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Stock Up 0.1%

Shares of NYSE:SPXC traded up $0.11 during midday trading on Friday, hitting $149.94. 170,215 shares of the company's stock were exchanged, compared to its average volume of 278,885. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $183.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The stock has a 50 day moving average price of $137.79 and a 200-day moving average price of $146.97. The company has a market cap of $7.00 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data 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. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same period in the prior year, the firm posted $1.25 EPS. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Ratings Changes

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

SPX Technologies 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.