Van Berkom & Associates Inc. Invests $1.63 Million in SPX Technologies, Inc. (NYSE:SPXC)

Van Berkom & Associates Inc. purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,166 shares of the company’s stock, valued at approximately $1,625,000.

Several other institutional investors have also recently bought and sold shares of SPXC. Private Advisor Group LLC increased its stake in shares of SPX Technologies by 1.0% in the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company’s stock valued at $1,007,000 after buying an additional 68 shares in the last quarter. CIBC Asset Management Inc grew its holdings in SPX Technologies by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,383 shares of the company’s stock worth $201,000 after acquiring an additional 73 shares during the last quarter. Assetmark Inc. increased its position in SPX Technologies by 4.7% in the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after acquiring an additional 78 shares in the last quarter. Hilltop National Bank increased its position in SPX Technologies by 19.9% in the 4th quarter. Hilltop National Bank now owns 536 shares of the company’s stock valued at $78,000 after acquiring an additional 89 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of SPX Technologies by 123.3% in the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SPXC. UBS Group decreased their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wolfe Research assumed coverage on SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock. Finally, Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SPX Technologies has a consensus rating of “Hold” and an average target price of $168.50.

SPX Technologies Trading Down 1.7 %

SPXC opened at $146.54 on Friday. The firm has a 50 day simple moving average of $148.29 and a 200 day simple moving average of $155.63. SPX Technologies, Inc. has a fifty-two week low of $103.11 and a fifty-two week high of $183.83. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. 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 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.