Swiss National Bank Grows Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Swiss National Bank raised its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 91,118 shares of the company’s stock after acquiring an additional 800 shares during the period. Swiss National Bank owned approximately 0.20% of SPX Technologies worth $13,259,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SPXC. Private Advisor Group LLC raised its stake in shares of SPX Technologies by 1.0% during the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company’s stock worth $1,007,000 after purchasing an additional 68 shares during the last quarter. CIBC Asset Management Inc raised its position 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 buying an additional 73 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of SPX Technologies by 2.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company’s stock worth $493,000 after acquiring an additional 85 shares during the period. Hilltop National Bank boosted its holdings in shares of SPX Technologies by 19.9% in the fourth 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 increased its stake in shares of SPX Technologies by 123.3% during 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 period. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPXC has been the subject of a number of recent analyst reports. UBS Group reduced their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. Wolfe Research began coverage on SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective on the stock. Finally, Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Stock Performance

NYSE SPXC opened at $137.86 on Thursday. The business has a 50 day moving average price of $144.53 and a 200 day moving average price of $153.64. The company has a market capitalization of $6.39 billion, a P/E ratio of 37.06, a PEG ratio of 1.33 and a beta of 1.26. SPX Technologies, Inc. has a 1-year low of $116.05 and a 1-year 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 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.