Empowered Funds LLC Takes Position in SPX Technologies, Inc. (NYSE:SPXC)

Empowered Funds LLC bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 185 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds also recently added to or reduced their stakes in SPXC. State Street Corp increased its position in shares of SPX Technologies by 1.3% during the third quarter. State Street Corp now owns 1,729,989 shares of the company’s stock worth $275,864,000 after acquiring an additional 22,177 shares during the period. Geode Capital Management LLC raised its position in SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after purchasing an additional 8,916 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of SPX Technologies by 25.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock valued at $114,640,000 after buying an additional 160,535 shares during the period. Janus Henderson Group PLC grew its position in shares of SPX Technologies by 45.3% during the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock worth $111,100,000 after buying an additional 217,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 142,544 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SPX Technologies Price Performance

Shares of SPXC opened at $140.18 on Friday. 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, Inc. has a 1-year low of $103.11 and a 1-year high of $183.83. The stock has a market cap of $6.50 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. The firm has a fifty day moving average price of $147.75 and a 200 day moving average price of $155.55.

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.