Cerity Partners LLC Increases Position in SPX Technologies, Inc. (NYSE:SPXC)

Cerity Partners LLC boosted its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 43.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,434 shares of the company’s stock after purchasing an additional 1,041 shares during the period. Cerity Partners LLC’s holdings in SPX Technologies were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Citigroup Inc. lifted its holdings in SPX Technologies by 50.6% during the 3rd quarter. Citigroup Inc. now owns 69,138 shares of the company’s stock worth $11,025,000 after buying an additional 23,236 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of SPX Technologies by 16.8% during the 3rd quarter. Raymond James Trust N.A. now owns 3,195 shares of the company’s stock valued at $509,000 after acquiring an additional 459 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SPX Technologies by 29.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company’s stock worth $99,408,000 after purchasing an additional 142,544 shares during the last quarter. Intech Investment Management LLC boosted its holdings in SPX Technologies by 129.8% in the third quarter. Intech Investment Management LLC now owns 10,518 shares of the company’s stock worth $1,677,000 after purchasing an additional 5,941 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of SPX Technologies by 60.4% during the third quarter. Advisors Asset Management Inc. now owns 5,632 shares of the company’s stock worth $898,000 after purchasing an additional 2,121 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Down 6.2 %

Shares of SPX Technologies stock opened at $159.43 on Friday. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 42.86, a P/E/G ratio of 1.76 and a beta of 1.26. The stock has a 50-day simple moving average of $164.94 and a 200-day simple moving average of $153.53. SPX Technologies, Inc. has a 52-week low of $87.08 and a 52-week 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 (NYSE:SPXC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. During the same period last year, the business earned $1.06 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wolfe Research started coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective for the company. Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $187.00 to $175.00 in a report on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $164.00.

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.