KLP Kapitalforvaltning AS Acquires Shares of 9,400 SPX Technologies, Inc. (NYSE:SPXC)

KLP Kapitalforvaltning AS bought a new position in SPX Technologies, Inc. (NYSE:SPXC) during the 4th quarter, Holdings Channel.com reports. The fund bought 9,400 shares of the company’s stock, valued at approximately $1,368,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Xponance Inc. increased its holdings in SPX Technologies by 12.0% in the 4th quarter. Xponance Inc. now owns 3,309 shares of the company’s stock valued at $482,000 after acquiring an additional 355 shares during the last quarter. Signaturefd LLC increased its holdings in shares of SPX Technologies by 15.9% in the fourth quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $91,000 after purchasing an additional 86 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of SPX Technologies in the fourth quarter worth about $613,000. Envestnet Portfolio Solutions Inc. boosted its stake in SPX Technologies by 1.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company’s stock valued at $632,000 after buying an additional 68 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in SPX Technologies by 10.3% during the 4th quarter. Natixis Advisors LLC now owns 24,468 shares of the company’s stock valued at $3,561,000 after buying an additional 2,276 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Down 3.1 %

SPXC stock opened at $129.49 on Friday. SPX Technologies, Inc. has a twelve month low of $116.05 and a twelve month high of $183.83. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm’s fifty day simple moving average is $143.26 and its two-hundred day simple moving average is $153.06.

Analyst Ratings Changes

SPXC has been the topic of several recent research reports. UBS Group decreased their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Oppenheimer upgraded shares of 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. Finally, Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.