KBC Group NV Has $4.16 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

KBC Group NV raised its position in SPX Technologies, Inc. (NYSE:SPXC) by 2,109.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,617 shares of the company’s stock after acquiring an additional 27,322 shares during the quarter. KBC Group NV’s holdings in SPX Technologies were worth $4,164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPXC. JPMorgan Chase & Co. raised its holdings in shares of SPX Technologies by 666.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after purchasing an additional 513,526 shares during the period. Conestoga Capital Advisors LLC increased its position in SPX Technologies by 74.6% during the third quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock worth $100,023,000 after buying an additional 267,965 shares during the last quarter. Janus Henderson Group PLC raised its stake in SPX Technologies by 45.3% in the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after buying an additional 217,316 shares during the period. Victory Capital Management Inc. lifted its position 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 buying an additional 145,225 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SPX Technologies by 29.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company’s stock worth $99,408,000 after acquiring an additional 142,544 shares during the period. Institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SPXC shares. Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. UBS Group reduced their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the company from $187.00 to $175.00 in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $168.50.

SPX Technologies Trading Up 1.4 %

Shares of SPX Technologies stock opened at $147.20 on Friday. 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 firm has a 50-day moving average of $154.66 and a 200-day moving average of $155.55. SPX Technologies, Inc. has a 52-week low of $100.59 and a 52-week high of $183.83. The stock has a market cap of $6.82 billion, a PE ratio of 39.57, a PEG ratio of 1.39 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. During the same quarter in the previous year, the firm posted $1.06 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current year.

SPX Technologies 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.