Ethic Inc. Increases Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Ethic Inc. raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 20.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,939 shares of the company’s stock after purchasing an additional 1,512 shares during the period. Ethic Inc.’s holdings in SPX Technologies were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 89,770 shares in the last quarter. Invesco Ltd. boosted its position in SPX Technologies by 3.4% during the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company’s stock valued at $167,462,000 after acquiring an additional 37,468 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in SPX Technologies by 25.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock valued at $114,640,000 after acquiring an additional 160,535 shares in the last quarter. FMR LLC grew its holdings in shares of SPX Technologies by 8.5% during the 4th quarter. FMR LLC now owns 718,298 shares of the company’s stock worth $104,527,000 after acquiring an additional 56,175 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of SPX Technologies by 16.1% in the 4th quarter. JPMorgan Chase & Co. now owns 685,445 shares of the company’s stock worth $99,746,000 after acquiring an additional 94,893 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

SPXC stock opened at $156.94 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a 50 day moving average price of $134.68 and a 200-day moving average price of $147.01. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company had revenue of $482.60 million during the quarter, compared to analyst estimates of $481.32 million. During the same quarter last year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts forecast that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Wednesday, February 26th.

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.