MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 17,701 Shares of SPX Technologies, Inc. (NYSE:SPXC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,617 shares of the company's stock after acquiring an additional 17,701 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.73% of SPX Technologies worth $49,421,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Private Advisor Group LLC lifted its position in SPX Technologies by 1.0% during the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company's stock valued at $1,007,000 after purchasing an additional 68 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in SPX Technologies by 1.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock valued at $632,000 after purchasing an additional 68 shares during the period. CIBC Asset Management Inc increased its position in SPX Technologies by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,383 shares of the company's stock valued at $201,000 after purchasing an additional 73 shares during the period. Bank of Montreal Can increased its position in SPX Technologies by 1.3% during the 4th quarter. Bank of Montreal Can now owns 6,316 shares of the company's stock valued at $919,000 after purchasing an additional 78 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of SPX Technologies by 2.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company's stock worth $493,000 after buying an additional 85 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on SPXC shares. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. B. Riley initiated coverage on shares of SPX Technologies in a research note on Thursday. They set a "buy" rating and a $195.00 target price on the stock. 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 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 company's 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 Stock Performance

NYSE SPXC traded up $1.82 on Friday, reaching $156.24. 193,686 shares of the stock were exchanged, compared to its average volume of 278,489. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83. The firm has a market capitalization of $7.30 billion, a PE ratio of 42.00, a PEG ratio of 1.33 and a beta of 1.21. The company's 50-day simple moving average is $135.89 and its two-hundred day simple moving average is $147.00. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.22. The firm 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 company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. Analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal 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.