Raymond James Financial Inc. Acquires Shares of 222,217 SPX Technologies, Inc. (NYSE:SPXC)

Raymond James Financial Inc. acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 222,217 shares of the company’s stock, valued at approximately $32,337,000. Raymond James Financial Inc. owned about 0.48% of SPX Technologies as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its stake in 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 buying an additional 78 shares during the period. Crossmark Global Holdings Inc. raised its stake in SPX Technologies by 13.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,655 shares of the company’s stock worth $583,000 after buying an additional 438 shares during the period. Victory Capital Management Inc. raised its stake in SPX Technologies by 196.9% during the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock worth $34,921,000 after buying an additional 145,225 shares during the period. Cable Hill Partners LLC acquired a new stake in SPX Technologies during the 3rd quarter worth $227,000. Finally, KBC Group NV increased its holdings in SPX Technologies by 14.3% during the 3rd quarter. KBC Group NV now owns 1,295 shares of the company’s stock worth $207,000 after purchasing an additional 162 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Trading Down 1.7 %

SPX Technologies stock opened at $131.55 on Friday. SPX Technologies, Inc. has a 52 week low of $114.99 and a 52 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. The stock has a market capitalization of $6.10 billion, a P/E ratio of 35.36, a PEG ratio of 1.33 and a beta of 1.26. The stock has a 50-day simple moving average of $145.37 and a 200 day simple moving average of $154.35.

Analysts Set New Price Targets

SPXC has been the subject of a number of research reports. Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price for the company. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. UBS Group decreased their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Oppenheimer upgraded SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SPX Technologies has an average rating of “Moderate Buy” and a consensus price target of $174.75.

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.