PFG Advisors Acquires New Stake in SPX Technologies, Inc. (NYSE:SPXC)

PFG Advisors acquired a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,924 shares of the company’s stock, valued at approximately $280,000.

A number of other large investors also recently bought and sold shares of the business. HighTower Advisors LLC boosted its holdings in SPX Technologies by 5.5% during the 4th quarter. HighTower Advisors LLC now owns 7,020 shares of the company’s stock valued at $1,022,000 after acquiring an additional 369 shares during the period. AGF Management Ltd. boosted its holdings in SPX Technologies by 11.7% during the 4th quarter. AGF Management Ltd. now owns 79,192 shares of the company’s stock valued at $11,524,000 after acquiring an additional 8,273 shares during the period. Wealthfront Advisers LLC purchased a new position in SPX Technologies during the 4th quarter valued at $2,891,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SPX Technologies by 18.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,362 shares of the company’s stock valued at $1,799,000 after acquiring an additional 1,957 shares during the period. Finally, Amundi boosted its holdings in SPX Technologies by 106.8% during the 4th quarter. Amundi now owns 29,051 shares of the company’s stock valued at $4,160,000 after acquiring an additional 15,006 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Oppenheimer upgraded SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Wednesday, February 26th. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price for the company. Finally, UBS Group lowered their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Trading Up 2.3 %

SPXC opened at $134.44 on Friday. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 1.33 and a beta of 1.26. 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, Inc. has a 12 month low of $116.05 and a 12 month high of $183.83. The stock has a fifty day moving average price of $145.06 and a 200-day moving average price of $154.15.

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.