KBC Group NV Buys 27,322 Shares of SPX Technologies, Inc. (NYSE:SPXC)

KBC Group NV lifted its position in SPX Technologies, Inc. (NYSE:SPXC) by 2,109.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,617 shares of the company’s stock after acquiring an additional 27,322 shares during the period. KBC Group NV owned approximately 0.06% of SPX Technologies worth $4,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of SPX Technologies by 666.7% during the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock worth $94,169,000 after purchasing an additional 513,526 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in SPX Technologies by 74.6% during the third quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock worth $100,023,000 after acquiring an additional 267,965 shares in the last quarter. Janus Henderson Group PLC grew 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 valued at $111,100,000 after acquiring an additional 217,316 shares during the period. Victory Capital Management Inc. increased its holdings in shares of SPX Technologies by 196.9% in the third quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock worth $34,921,000 after acquiring an additional 145,225 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of SPX Technologies by 29.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company’s stock worth $99,408,000 after purchasing an additional 142,544 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of SPXC opened at $147.20 on Friday. The company has a 50 day moving average of $154.66 and a 200-day moving average of $155.55. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $6.82 billion, a P/E ratio of 39.57, a P/E/G ratio of 1.39 and a beta of 1.30. SPX Technologies, Inc. has a twelve month low of $100.59 and a twelve month high of $183.83.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SPXC shares. Wolfe Research started coverage on SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. UBS Group reduced their price target on shares of 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 lowered shares of SPX Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $187.00 to $175.00 in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $168.50.

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.