SPX Technologies, Inc. (NYSE:SPXC) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 44.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,594 shares of the company's stock after acquiring an additional 4,178 shares during the period. ProShare Advisors LLC's holdings in SPX Technologies were worth $1,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Advisor Group LLC lifted its position in shares of SPX Technologies by 1.0% during the 4th quarter. Private Advisor Group LLC now owns 6,921 shares of the company's stock valued at $1,007,000 after acquiring an additional 68 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of SPX Technologies by 1.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock worth $632,000 after purchasing an additional 68 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of SPX Technologies by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,383 shares of the company's stock worth $201,000 after purchasing an additional 73 shares in the last quarter. Bank of Montreal Can increased its stake in shares of SPX Technologies by 1.3% during the 4th quarter. Bank of Montreal Can now owns 6,316 shares of the company's stock worth $919,000 after purchasing an additional 78 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of SPX Technologies by 2.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company's stock worth $493,000 after purchasing an additional 85 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SPXC shares. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Wednesday, February 26th. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, B. Riley started coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They set a "buy" rating and a $195.00 price objective for the company. One 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $178.80.

SPX Technologies Stock Down 0.4%

Shares of NYSE SPXC opened at $155.61 on Wednesday. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The firm's 50 day moving average price is $136.83 and its 200 day moving average price is $147.08. The firm has a market cap of $7.27 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. 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 (NYSE:SPXC - Get Free Report) last announced 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. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same quarter last year, the business earned $1.25 earnings per share. SPX Technologies's revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current 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.

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