Barclays PLC grew its stake in SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 299.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,567 shares of the company’s stock after purchasing an additional 63,373 shares during the period. Barclays PLC owned about 0.18% of SPX Technologies worth $13,485,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in SPXC. Conestoga Capital Advisors LLC acquired a new stake in SPX Technologies during the second quarter worth about $51,070,000. Janus Henderson Group PLC lifted its position in shares of SPX Technologies by 45.3% in the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock worth $111,100,000 after acquiring an additional 217,316 shares during the period. Select Equity Group L.P. acquired a new stake in shares of SPX Technologies during the 2nd quarter worth approximately $24,904,000. Hood River Capital Management LLC increased its position in shares of SPX Technologies by 1,342.6% during the second quarter. Hood River Capital Management LLC now owns 187,537 shares of the company’s stock valued at $26,657,000 after purchasing an additional 174,537 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of SPX Technologies by 196.9% in the third quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock valued at $34,921,000 after purchasing an additional 145,225 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on SPXC shares. Sidoti downgraded shares of SPX Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Wolfe Research assumed coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price on the stock. Four 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 has a consensus rating of “Hold” and a consensus target price of $164.00.
SPX Technologies Stock Performance
SPX Technologies stock opened at $155.53 on Monday. The firm has a market capitalization of $7.21 billion, a P/E ratio of 41.81, a P/E/G ratio of 1.55 and a beta of 1.26. The stock has a fifty day moving average price of $164.82 and a two-hundred day moving average price of $154.18. SPX Technologies, Inc. has a 52-week low of $93.02 and a 52-week 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.
SPX Technologies (NYSE:SPXC – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. As a group, analysts anticipate that SPX Technologies, Inc. will post 5.56 EPS for the current fiscal 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.
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