SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 60.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,632 shares of the company’s stock after purchasing an additional 2,121 shares during the quarter. Advisors Asset Management Inc.’s holdings in SPX Technologies were worth $898,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in shares of SPX Technologies during the second quarter worth $28,000. Canada Pension Plan Investment Board purchased a new position in SPX Technologies in the 2nd quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in SPX Technologies during the 3rd quarter worth about $28,000. UMB Bank n.a. grew its stake in SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 193 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in shares of SPX Technologies in the second quarter valued at about $39,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

SPX Technologies Price Performance

Shares of SPXC opened at $178.98 on Wednesday. The business’s 50-day moving average is $162.86 and its two-hundred day moving average is $151.82. The company has a market capitalization of $8.30 billion, a P/E ratio of 48.11, a P/E/G ratio of 1.76 and a beta of 1.22. SPX Technologies, Inc. has a fifty-two week low of $83.98 and a fifty-two week 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.

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