Twinbeech Capital LP Purchases Shares of 13,269 SPX Technologies, Inc. (NYSE:SPXC)

Twinbeech Capital LP purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,269 shares of the company's stock, valued at approximately $1,931,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of SPX Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock valued at $732,153,000 after buying an additional 89,770 shares during the last quarter. Invesco Ltd. lifted its position in shares of SPX Technologies by 3.4% during the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock valued at $167,462,000 after buying an additional 37,468 shares during the last quarter. 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 during the last quarter. Janus Henderson Group PLC lifted its position in shares of SPX Technologies by 3.9% during the 4th quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock valued at $105,321,000 after buying an additional 26,995 shares during the last quarter. Finally, FMR LLC lifted its position in shares of SPX Technologies by 8.5% during the 4th quarter. FMR LLC now owns 718,298 shares of the company's stock valued at $104,527,000 after buying an additional 56,175 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SPXC shares. B. Riley started coverage on SPX Technologies in a research report on Thursday, May 15th. They set a "buy" rating and a $195.00 price target on the stock. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, SPX Technologies currently has a consensus rating of "Buy" and a consensus price target of $178.80.

SPX Technologies Price Performance

SPXC traded up $3.06 during trading on Tuesday, reaching $152.83. 13,665 shares of the company were exchanged, compared to its average volume of 301,982. The company's 50-day moving average is $138.04 and its two-hundred day moving average is $146.70. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 41.07, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $482.60 million for the quarter, compared to analysts' expectations of $481.32 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. Research analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share 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.