Nuveen Asset Management LLC Grows Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Nuveen Asset Management LLC lifted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 705,843 shares of the company's stock after acquiring an additional 11,771 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.52% of SPX Technologies worth $102,714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OMERS ADMINISTRATION Corp purchased a new position in SPX Technologies during the 4th quarter worth $655,000. Millennium Management LLC grew its position in shares of SPX Technologies by 960.3% during the 4th quarter. Millennium Management LLC now owns 26,486 shares of the company's stock worth $3,854,000 after buying an additional 23,988 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of SPX Technologies by 5.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 339,617 shares of the company's stock worth $49,421,000 after buying an additional 17,701 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of SPX Technologies by 3.9% during the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock valued at $105,321,000 after buying an additional 26,995 shares during the period. Finally, Gotham Asset Management LLC raised its holdings in shares of SPX Technologies by 9.9% in the fourth quarter. Gotham Asset Management LLC now owns 4,782 shares of the company's stock valued at $696,000 after acquiring an additional 432 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

SPX Technologies Stock Down 0.7%

SPXC stock traded down $1.07 during trading on Thursday, reaching $151.10. 16,871 shares of the company traded hands, compared to its average volume of 277,665. The business has a 50 day simple moving average of $137.19 and a 200 day simple moving average of $147.12. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.22. The business 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 was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. On average, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SPXC. B. Riley initiated coverage on shares of SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 target price on the stock. 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. Finally, Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $178.80.

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.