Hilltop National Bank Raises Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Hilltop National Bank boosted its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 19.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 536 shares of the company’s stock after acquiring an additional 89 shares during the period. Hilltop National Bank’s holdings in SPX Technologies were worth $78,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in SPX Technologies during the 2nd quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in SPX Technologies during the 3rd quarter worth $28,000. ST Germain D J Co. Inc. acquired a new position in SPX Technologies during the 3rd quarter worth $44,000. Farther Finance Advisors LLC grew its holdings in SPX Technologies by 247.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock worth $80,000 after acquiring an additional 357 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in SPX Technologies by 65.2% during the 3rd quarter. Signaturefd LLC now owns 542 shares of the company’s stock worth $86,000 after acquiring an additional 214 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wolfe Research began coverage on shares of SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective for the company. Sidoti downgraded shares of SPX Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Finally, UBS Group reduced their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $168.50.

SPX Technologies Trading Down 3.7 %

SPX Technologies stock opened at $137.84 on Friday. The company has a market cap of $6.39 billion, a P/E ratio of 37.05, a PEG ratio of 1.55 and a beta of 1.30. The firm’s 50-day moving average is $158.68 and its 200-day moving average is $155.08. SPX Technologies, Inc. has a 1 year low of $97.16 and a 1 year high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

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 the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. SPX Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.06 EPS. On average, equities analysts expect that SPX Technologies, Inc. will post 5.56 earnings per share for the current year.

About SPX Technologies

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.