Yarbrough Capital LLC Boosts Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Yarbrough Capital LLC grew its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 43.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,072 shares of the company’s stock after buying an additional 2,135 shares during the quarter. Yarbrough Capital LLC’s holdings in SPX Technologies were worth $1,029,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Assetmark Inc. grew its position in SPX Technologies by 4.7% during the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock worth $278,000 after acquiring an additional 78 shares during the last quarter. Hilltop National Bank grew its holdings in shares of SPX Technologies by 19.9% in the fourth 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 increased its stake in shares of SPX Technologies by 4.3% in the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock worth $503,000 after buying an additional 146 shares during the period. PNC Financial Services Group Inc. raised its holdings in SPX Technologies by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock valued at $1,632,000 after buying an additional 158 shares during the last quarter. Finally, M&T Bank Corp boosted its position in SPX Technologies by 0.4% during the 3rd quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock valued at $5,986,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Down 0.2 %

Shares of SPXC opened at $148.58 on Friday. SPX Technologies, Inc. has a 1-year low of $97.55 and a 1-year high of $183.83. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 39.94, a PEG ratio of 1.25 and a beta of 1.30. The firm’s 50-day moving average price is $158.02 and its 200-day moving average price is $155.23. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC) last posted its 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. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. During the same quarter in the prior year, the business earned $1.06 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on SPXC. Sidoti downgraded shares of SPX Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $187.00 to $175.00 in a research note on Friday, December 6th. UBS Group reduced their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has an average 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.