Redhawk Wealth Advisors Inc. Buys 883 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Redhawk Wealth Advisors Inc. raised its position in SPX Technologies, Inc. (NYSE:SPXC) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,143 shares of the company’s stock after buying an additional 883 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in SPX Technologies were worth $2,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPXC. Assetmark Inc. boosted its stake in SPX Technologies by 4.7% in the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after acquiring an additional 78 shares during the last quarter. Hilltop National Bank boosted its position in shares of SPX Technologies by 19.9% in the 4th quarter. Hilltop National Bank now owns 536 shares of the company’s stock worth $78,000 after purchasing an additional 89 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of SPX Technologies by 4.3% during the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock worth $503,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. increased its holdings in SPX Technologies by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock valued at $1,632,000 after purchasing an additional 158 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in SPX Technologies by 0.4% in the third quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock valued at $5,986,000 after purchasing an additional 160 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $148.68 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.30. SPX Technologies, Inc. has a one year low of $97.55 and a one year high of $183.83. The stock’s 50-day moving average is $158.33 and its 200-day moving average is $155.27.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 EPS. Equities analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several analyst reports. Wolfe Research started coverage on SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price for the company. Sidoti downgraded shares of SPX Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $187.00 to $175.00 in a research note 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, January 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SPX Technologies currently has a consensus rating of “Hold” and an average target price of $168.50.

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.