Tema Etfs LLC Invests $5.93 Million in SPX Technologies, Inc. (NYSE:SPXC)

Tema Etfs LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 40,768 shares of the company's stock, valued at approximately $5,933,000. SPX Technologies accounts for approximately 2.5% of Tema Etfs LLC's portfolio, making the stock its 9th biggest holding. Tema Etfs LLC owned approximately 0.09% of SPX Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its position in SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company's stock worth $13,485,000 after acquiring an additional 63,373 shares during the last quarter. KBC Group NV boosted its stake in SPX Technologies by 2,109.8% in the 4th quarter. KBC Group NV now owns 28,617 shares of the company's stock valued at $4,164,000 after purchasing an additional 27,322 shares during the period. Venturi Wealth Management LLC acquired a new position in SPX Technologies in the 4th quarter valued at $331,000. Comerica Bank increased its position in SPX Technologies by 25.4% during the 4th quarter. Comerica Bank now owns 86,267 shares of the company's stock worth $12,554,000 after buying an additional 17,472 shares during the period. Finally, Arizona State Retirement System increased its position in SPX Technologies by 0.9% during the 4th quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock worth $1,955,000 after buying an additional 123 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Oppenheimer upgraded shares of 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 initiated coverage on shares of SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 target price on the stock. Finally, Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $178.80.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded down $0.76 on Friday, reaching $149.07. 26,785 shares of the stock were exchanged, compared to its average volume of 277,505. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market cap of $6.96 billion, a PE ratio of 40.06, a P/E/G ratio of 1.33 and a beta of 1.21. The firm's 50 day moving average is $137.47 and its 200-day moving average is $147.13. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83.

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