Palisades Investment Partners LLC Has $16.31 Million Stock Position 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 fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,097 shares of the company's stock after buying an additional 10,109 shares during the quarter. SPX Technologies makes up about 6.9% of Palisades Investment Partners LLC's holdings, making the stock its 2nd biggest position. Palisades Investment Partners LLC owned about 0.24% of SPX Technologies worth $16,312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its position in shares of SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after acquiring an additional 90 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of SPX Technologies during the 4th quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ lifted 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 valued at $28,000 after purchasing an additional 185 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Finally, Spire Wealth Management bought a new position in SPX Technologies during the 4th quarter valued at about $57,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Price Performance

SPX Technologies stock traded up $3.15 during trading hours on Tuesday, reaching $152.92. 23,088 shares of the stock were exchanged, compared to its average volume of 277,897. The company has a market cap of $7.14 billion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $183.83. The stock has a 50 day moving average of $138.04 and a two-hundred day moving average of $146.70.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating 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 company had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. During the same period last year, the company posted $1.25 EPS. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Wednesday, February 26th. B. Riley assumed coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price for the company. Finally, Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average 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.