SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Intech Investment Management LLC

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

A number of other institutional investors and hedge funds have also made changes to their positions in SPXC. Conestoga Capital Advisors LLC acquired a new position in shares of SPX Technologies during the second quarter worth about $51,070,000. Select Equity Group L.P. acquired a new position in shares of SPX Technologies during the second quarter worth about $24,904,000. Hood River Capital Management LLC increased its stake in shares of SPX Technologies by 1,342.6% during the second quarter. Hood River Capital Management LLC now owns 187,537 shares of the company’s stock worth $26,657,000 after acquiring an additional 174,537 shares during the period. Victory Capital Management Inc. increased its stake in shares of SPX Technologies by 196.9% during the third quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock worth $34,921,000 after acquiring an additional 145,225 shares during the period. Finally, Fred Alger Management LLC acquired a new position in shares of SPX Technologies during the second quarter worth about $16,138,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday. They set an “outperform” rating and a $199.00 target price on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $160.33.

SPX Technologies Trading Up 3.2 %

Shares of SPXC opened at $181.56 on Tuesday. 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 firm’s 50-day moving average is $162.39 and its two-hundred day moving average is $151.55. SPX Technologies, Inc. has a twelve month low of $83.98 and a twelve month high of $183.83. The firm has a market capitalization of $8.42 billion, a P/E ratio of 48.81, a PEG ratio of 1.76 and a beta of 1.22.

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