Cibc World Markets Corp Invests $613,000 in SPX Technologies, Inc. (NYSE:SPXC)

Cibc World Markets Corp bought a new position in SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, HoldingsChannel reports. The fund bought 4,213 shares of the company’s stock, valued at approximately $613,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Envestnet Portfolio Solutions Inc. boosted its position in shares of SPX Technologies by 1.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company’s stock worth $632,000 after buying an additional 68 shares during the period. Natixis Advisors LLC raised its holdings in shares of SPX Technologies by 10.3% during the fourth quarter. Natixis Advisors LLC now owns 24,468 shares of the company’s stock worth $3,561,000 after acquiring an additional 2,276 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of SPX Technologies by 38.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,869 shares of the company’s stock worth $272,000 after acquiring an additional 515 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after acquiring an additional 185 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of SPX Technologies by 0.9% during the fourth quarter. Swiss National Bank now owns 91,118 shares of the company’s stock worth $13,259,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

SPXC has been the subject of several recent research reports. 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. UBS Group cut 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. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, 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 on the stock. 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

SPX Technologies Price Performance

NYSE SPXC opened at $134.10 on Friday. SPX Technologies, Inc. has a fifty-two week low of $116.05 and a fifty-two week high of $183.83. The stock’s 50-day moving average is $144.31 and its two-hundred day moving average is $153.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The firm has a market cap of $6.22 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26.

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.