ProShare Advisors LLC Acquires 4,178 Shares of SPX Technologies, Inc. (NYSE:SPXC)

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

A number of other large investors also recently modified their holdings of SPXC. Allworth Financial LP lifted its holdings in shares of SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after acquiring an additional 90 shares during the last quarter. Empowered Funds LLC purchased a new stake in SPX Technologies during the fourth quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after buying an additional 185 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after buying an additional 151 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of SPX Technologies in the 4th quarter valued at about $57,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented 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. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, B. Riley assumed coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $178.80.

SPX Technologies Stock Up 0.1%

SPX Technologies stock traded up $0.11 on Monday, hitting $149.94. 170,215 shares of the stock traded hands, compared to its average volume of 278,885. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The firm has a market cap of $7.00 billion, a P/E ratio of 40.31, 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. The business's fifty day simple moving average is $137.79 and its 200 day simple moving average is $146.84.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share 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 for the quarter, compared to analysts' expectations of $481.32 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. The business's 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 earnings per share for the current 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.