Centiva Capital LP Takes $361,000 Position in SPX Technologies, Inc. (NYSE:SPXC)

Centiva Capital LP purchased a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,261 shares of the company’s stock, valued at approximately $361,000.

Several other hedge funds have also made changes to their positions in the company. Assetmark Inc. grew its stake in shares of SPX Technologies by 4.7% in the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after buying an additional 78 shares during the period. Evergreen Capital Management LLC grew its stake in shares of SPX Technologies by 4.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock valued at $503,000 after buying an additional 146 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of SPX Technologies by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock worth $1,632,000 after acquiring an additional 158 shares during the last quarter. KBC Group NV lifted its holdings in shares of SPX Technologies by 14.3% in the 3rd quarter. KBC Group NV now owns 1,295 shares of the company’s stock worth $207,000 after acquiring an additional 162 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of SPX Technologies by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 4,698 shares of the company’s stock worth $668,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

SPX Technologies stock opened at $158.80 on Tuesday. The stock has a market cap of $7.36 billion, a P/E ratio of 42.69, a price-to-earnings-growth ratio of 1.59 and a beta of 1.26. The company has a fifty day simple moving average of $164.92 and a 200-day simple moving average of $153.72. SPX Technologies, Inc. has a 12-month low of $88.87 and a 12-month high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS 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 firm had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. During the same period last year, the business earned $1.06 EPS. SPX Technologies’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts expect that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal year.

Analysts Set New Price Targets

SPXC has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock. Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $187.00 to $175.00 in a research report on Friday. Four equities 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 company has a consensus rating of “Hold” and a consensus target price of $164.00.

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.