Nuveen Asset Management LLC Boosts Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Nuveen Asset Management LLC lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 705,843 shares of the company's stock after purchasing an additional 11,771 shares during the period. Nuveen Asset Management LLC owned about 1.52% of SPX Technologies worth $102,714,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after acquiring an additional 90 shares during the period. Empowered Funds LLC purchased a new stake in shares of SPX Technologies during the fourth quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 valued at $29,000 after purchasing an additional 151 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of SPX Technologies by 2,055.6% during 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 boosted its stake in shares of SPX Technologies by 313.8% during 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 period. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Down 0.4%

SPX Technologies stock traded down $0.64 during trading hours on Tuesday, hitting $155.61. 184,146 shares of the stock traded hands, compared to its average volume of 278,299. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83. The firm's 50-day moving average price is $136.34 and its two-hundred day moving average price is $147.02. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The company has a market cap of $7.27 billion, a PE ratio of 41.83, a PEG ratio of 1.33 and a beta of 1.21.

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, topping analysts' consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. B. Riley initiated coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. Finally, Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a report 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. Based on data from MarketBeat.com, SPX Technologies presently has a consensus rating of "Buy" and a consensus price target of $178.80.

SPX Technologies Company 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.