Independent Advisor Alliance Makes New $319,000 Investment in SPX Technologies, Inc. (NYSE:SPXC)

Independent Advisor Alliance purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,002 shares of the company’s stock, valued at approximately $319,000.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of SPX Technologies in the third quarter worth approximately $28,000. Crewe Advisors LLC bought a new stake in SPX Technologies during the 2nd quarter valued at approximately $28,000. Canada Pension Plan Investment Board purchased a new position in SPX Technologies in the 2nd quarter worth approximately $28,000. UMB Bank n.a. boosted its stake in SPX Technologies by 965.0% in the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after purchasing an additional 193 shares during the period. Finally, ST Germain D J Co. Inc. purchased a new stake in SPX Technologies during the 3rd quarter valued at approximately $44,000. Institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

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

SPX Technologies Stock Performance

NYSE SPXC opened at $175.00 on Friday. SPX Technologies, Inc. has a fifty-two week low of $83.98 and a fifty-two week high of $183.83. The company has a market cap of $8.11 billion, a P/E ratio of 47.04, a P/E/G ratio of 1.82 and a beta of 1.22. 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 business’s 50 day moving average price is $163.50 and its 200-day moving average price is $152.14.

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 return on equity of 19.70% and a net margin of 9.11%. The business had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. During the same period in the prior year, the business earned $1.06 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts predict that SPX Technologies, Inc. will post 5.56 earnings per share for the current year.

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.