SPX Technologies, Inc. (NYSE:SPXC) Stake Increased by Northern Trust Corp

Northern Trust Corp raised its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 538,501 shares of the company's stock after acquiring an additional 56,221 shares during the quarter. Northern Trust Corp owned approximately 1.16% of SPX Technologies worth $78,363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SPXC. Allworth Financial LP grew its holdings in shares of SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after buying an additional 90 shares in the last quarter. Empowered Funds LLC acquired a new position in SPX Technologies in the 4th quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of SPX Technologies by 377.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after purchasing an additional 185 shares during the period. Finally, Covestor Ltd increased its stake in SPX Technologies by 313.8% in the fourth quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after purchasing an additional 295 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

SPX Technologies Trading Down 0.3 %

SPXC stock traded down $0.51 during midday trading on Friday, reaching $148.85. 198,734 shares of the company's stock traded hands, compared to its average volume of 277,354. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $183.83. The business has a 50-day moving average price of $133.81 and a two-hundred day moving average price of $147.17. The company has a market capitalization of $6.95 billion, a P/E ratio of 40.01, a PEG ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.38 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $481.32 million. During the same period last year, the company posted $1.25 earnings per share. The firm's revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast 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.