Sherbrooke Park Advisers LLC Purchases Shares of 2,691 SPX Technologies, Inc. (NYSE:SPXC)

Sherbrooke Park Advisers LLC acquired a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,691 shares of the company's stock, valued at approximately $392,000.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in SPX Technologies during the fourth quarter valued at $93,038,000. Raymond James Financial Inc. acquired a new position in shares of SPX Technologies during the 4th quarter worth approximately $32,337,000. First Trust Advisors LP raised its stake in shares of SPX Technologies by 54.5% during the 4th quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after buying an additional 195,153 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of SPX Technologies by 25.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after buying an additional 160,535 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in SPX Technologies by 1,260.7% during the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock valued at $24,813,000 after purchasing an additional 157,981 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Oppenheimer raised 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. B. Riley began coverage on SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target for the company. Finally, Sidoti raised 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 issued a strong buy rating to the company. According to data from MarketBeat, SPX Technologies currently has an average rating of "Buy" and an average price target of $178.80.

SPX Technologies Trading Down 0.5%

NYSE SPXC traded down $0.81 on Friday, reaching $149.03. The stock had a trading volume of 21,720 shares, compared to its average volume of 303,398. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average price of $137.47 and a two-hundred day moving average price of $147.13. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 40.06, a P/E/G ratio of 1.33 and a beta of 1.21.

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

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.