Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 18.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,362 shares of the company’s stock after acquiring an additional 1,957 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SPX Technologies were worth $1,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amundi lifted its position in SPX Technologies by 106.8% during the fourth quarter. Amundi now owns 29,051 shares of the company’s stock valued at $4,160,000 after buying an additional 15,006 shares during the period. Raymond James Financial Inc. purchased a new position in SPX Technologies during the fourth quarter valued at $32,337,000. Arizona State Retirement System lifted its position in SPX Technologies by 0.9% during the fourth quarter. Arizona State Retirement System now owns 13,436 shares of the company’s stock valued at $1,955,000 after buying an additional 123 shares during the period. Charles Schwab Investment Management Inc. lifted its position in SPX Technologies by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 625,361 shares of the company’s stock valued at $91,003,000 after buying an additional 1,956 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in SPX Technologies by 334.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 760 shares of the company’s stock valued at $109,000 after buying an additional 585 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $135.60 on Tuesday. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 1.33 and a beta of 1.26. The firm’s 50-day moving average is $144.80 and its 200 day moving average is $153.95. SPX Technologies, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SPXC. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a research report on Wednesday, February 26th. Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Wolfe Research assumed coverage on shares of SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target on the stock. Finally, UBS Group dropped their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.75.

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.