M&T Bank Corp Boosts Stake in SPX Technologies, Inc. (NYSE:SPXC)

M&T Bank Corp raised its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,541 shares of the company’s stock after acquiring an additional 160 shares during the quarter. M&T Bank Corp owned approximately 0.08% of SPX Technologies worth $5,986,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SPXC. Crewe Advisors LLC bought a new position in shares of SPX Technologies during the 2nd quarter worth approximately $28,000. Canada Pension Plan Investment Board acquired a new position in shares of SPX Technologies during the second quarter worth $28,000. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies during the 3rd quarter valued at $28,000. UMB Bank n.a. lifted its holdings in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 193 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of SPX Technologies in the 3rd quarter worth $44,000. 92.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPXC has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target for the company. Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SPX Technologies has an average rating of “Hold” and an average price target of $164.00.

SPX Technologies Trading Up 1.5 %

Shares of NYSE:SPXC opened at $145.73 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 52-week low of $95.00 and a 52-week high of $183.83. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 1.55 and a beta of 1.26. The business has a 50-day moving average price of $163.21 and a 200-day moving average price of $154.56.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. SPX Technologies’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.06 EPS. Equities analysts predict that SPX Technologies, Inc. will post 5.56 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.