Norges Bank Purchases New Position in SPX Technologies, Inc. (NYSE:SPXC)

Norges Bank acquired a new position in SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 639,350 shares of the company’s stock, valued at approximately $93,038,000. Norges Bank owned 1.38% of SPX Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in SPXC. JPMorgan Chase & Co. boosted its holdings in SPX Technologies by 666.7% in the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after acquiring an additional 513,526 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of SPX Technologies during the 4th quarter valued at about $32,337,000. Janus Henderson Group PLC raised its stake in SPX Technologies by 45.3% in 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. Conestoga Capital Advisors LLC lifted its holdings in SPX Technologies by 25.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock worth $114,640,000 after buying an additional 160,535 shares during the period. Finally, Vanguard Group Inc. boosted its position in SPX Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company’s stock valued at $732,153,000 after acquiring an additional 89,770 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. 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 research report on Wednesday, February 26th. UBS Group decreased their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Trading Up 2.7 %

SPX Technologies stock opened at $132.30 on Wednesday. SPX Technologies, Inc. has a 12 month low of $116.05 and a 12 month high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $142.44 and its two-hundred day simple moving average is $152.85. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26.

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.