Marshall Wace LLP Takes $361,000 Position in SPX Technologies, Inc. (NYSE:SPXC)

Marshall Wace LLP bought a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,482 shares of the company's stock, valued at approximately $361,000.

Several other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in SPX Technologies in the fourth quarter worth about $93,038,000. Raymond James Financial Inc. bought a new position in SPX Technologies during the 4th quarter valued at approximately $32,337,000. Conestoga Capital Advisors LLC increased its position in 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. Franklin Resources Inc. raised its stake 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 buying an additional 157,981 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in SPX Technologies by 16.1% in the fourth quarter. JPMorgan Chase & Co. now owns 685,445 shares of the company's stock worth $99,746,000 after acquiring an additional 94,893 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

SPXC traded down $0.51 during midday trading on Friday, hitting $148.85. 198,734 shares of the company traded hands, compared to its average volume of 277,717. The company's 50-day moving average is $134.04 and its 200 day moving average is $147.03. 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 firm has a market capitalization of $6.95 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $183.83.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SPXC shares. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.75.

SPX Technologies 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.