Geode Capital Management LLC raised its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,033,825 shares of the company's stock after purchasing an additional 8,916 shares during the quarter. Geode Capital Management LLC owned about 2.23% of SPX Technologies worth $164,888,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in shares of SPX Technologies by 1.3% in the 3rd quarter. State Street Corp now owns 1,729,989 shares of the company's stock worth $275,864,000 after purchasing an additional 22,177 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of SPX Technologies by 3.3% in the second quarter. Earnest Partners LLC now owns 1,066,426 shares of the company's stock valued at $151,582,000 after buying an additional 33,675 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of SPX Technologies by 45.3% during the 3rd 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 last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of SPX Technologies by 74.6% during the 3rd 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. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of SPX Technologies by 29.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company's stock worth $99,408,000 after acquiring an additional 142,544 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.
SPXC has been the subject of several analyst reports. Sidoti downgraded SPX Technologies from a "buy" rating to a "neutral" rating and reduced their target price for the company from $187.00 to $175.00 in a report on Friday, December 6th. Wolfe Research began coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an "outperform" rating and a $199.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, SPX Technologies currently has a consensus rating of "Hold" and an average target price of $164.00.
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Shares of SPXC stock opened at $155.53 on Monday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 41.81, a P/E/G ratio of 1.55 and a beta of 1.26. SPX Technologies, Inc. has a 1-year low of $93.02 and a 1-year high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The stock's fifty day simple moving average is $164.82 and its 200-day simple moving average is $154.18.
SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results 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 company had revenue of $483.70 million for the quarter, compared to analysts' expectations 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 for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. On average, sell-side analysts predict that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.
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.
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