Intech Investment Management LLC Grows Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Intech Investment Management LLC lifted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 129.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,518 shares of the company’s stock after purchasing an additional 5,941 shares during the period. Intech Investment Management LLC’s holdings in SPX Technologies were worth $1,677,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Assetmark Inc. lifted its position in shares of SPX Technologies by 4.7% during the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock worth $278,000 after purchasing an additional 78 shares during the last quarter. Evergreen Capital Management LLC lifted its position in SPX Technologies by 4.3% in the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock valued at $503,000 after acquiring an additional 146 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in SPX Technologies by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock valued at $1,632,000 after acquiring an additional 158 shares during the last quarter. KBC Group NV lifted its position in SPX Technologies by 14.3% in the third quarter. KBC Group NV now owns 1,295 shares of the company’s stock valued at $207,000 after acquiring an additional 162 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in SPX Technologies by 3.8% in the second quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock valued at $668,000 after acquiring an additional 174 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $181.56 on Tuesday. The company has a 50-day simple moving average of $162.39 and a 200-day simple moving average of $151.55. SPX Technologies, Inc. has a one year low of $83.98 and a one year 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 stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 48.81, a PEG ratio of 1.76 and a beta of 1.22.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. During the same period in the prior year, the company earned $1.06 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that SPX Technologies, Inc. will post 5.56 EPS for the current year.

Analyst Ratings Changes

Separately, Wolfe Research started coverage on shares of SPX Technologies in a research report on Monday. They issued an “outperform” rating and a $199.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $160.33.

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.