Mercer Global Advisors Inc. ADV Acquires New Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Mercer Global Advisors Inc. ADV bought a new stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,916 shares of the company's stock, valued at approximately $279,000.

Several other hedge funds have also made changes to their positions in SPXC. Barclays PLC grew its holdings in SPX Technologies by 299.0% during the 3rd quarter. Barclays PLC now owns 84,567 shares of the company's stock worth $13,485,000 after acquiring an additional 63,373 shares in the last quarter. KBC Group NV raised its holdings in SPX Technologies by 2,109.8% during the fourth quarter. KBC Group NV now owns 28,617 shares of the company's stock worth $4,164,000 after purchasing an additional 27,322 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in SPX Technologies during the fourth quarter worth $331,000. Comerica Bank raised its holdings in SPX Technologies by 25.4% in the 4th quarter. Comerica Bank now owns 86,267 shares of the company's stock valued at $12,554,000 after acquiring an additional 17,472 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of SPX Technologies by 0.9% in the 4th quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock valued at $1,955,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Upgrades and Downgrades

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

SPX Technologies Trading Down 0.9%

NYSE:SPXC traded down $1.37 during mid-day trading on Wednesday, hitting $154.44. The company had a trading volume of 16,424 shares, compared to its average volume of 277,447. The firm has a market cap of $7.21 billion, a P/E ratio of 41.52, a P/E/G ratio of 1.33 and a beta of 1.21. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $183.83. The business's fifty day moving average is $136.83 and its two-hundred day moving average is $147.08. 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 posted its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.22. The company had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. As a group, research analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

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.