SPX Technologies, Inc. (NYSE:SPXC) Position Boosted by Diametric Capital LP

Diametric Capital LP raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 17.6% during the 4th quarter, Holdings Channel reports. The fund owned 1,999 shares of the company’s stock after purchasing an additional 299 shares during the period. Diametric Capital LP’s holdings in SPX Technologies were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of SPX Technologies during the fourth quarter valued at about $93,038,000. JPMorgan Chase & Co. increased its stake in SPX Technologies by 666.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after buying an additional 513,526 shares during the period. Raymond James Financial Inc. bought a new stake in shares of SPX Technologies during the 4th quarter worth about $32,337,000. Janus Henderson Group PLC lifted its stake 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. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of SPX Technologies by 25.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock worth $114,640,000 after acquiring an additional 160,535 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

SPXC has been the topic of several recent analyst reports. Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating 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. Finally, Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SPX Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Price Performance

NYSE SPXC opened at $132.30 on Wednesday. The stock has a market capitalization of $6.14 billion, a P/E ratio of 35.56, a P/E/G ratio of 1.33 and a beta of 1.26. 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 fifty day moving average is $142.44 and its two-hundred day moving average is $152.85. SPX Technologies, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83.

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.