OMERS ADMINISTRATION Corp Takes Position in SPX Technologies, Inc. (NYSE:SPXC)

OMERS ADMINISTRATION Corp bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,500 shares of the company’s stock, valued at approximately $655,000.

Several other large investors also recently modified their holdings of the business. Barclays PLC grew its stake in SPX Technologies by 299.0% in the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock worth $13,485,000 after purchasing an additional 63,373 shares in the last quarter. Franklin Resources Inc. grew its stake in SPX Technologies by 188.4% in the third quarter. Franklin Resources Inc. now owns 12,531 shares of the company’s stock worth $2,127,000 after purchasing an additional 8,186 shares in the last quarter. Park Avenue Securities LLC grew its stake in SPX Technologies by 11.8% in the fourth quarter. Park Avenue Securities LLC now owns 4,414 shares of the company’s stock worth $642,000 after purchasing an additional 465 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in SPX Technologies by 26.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,407 shares of the company’s stock worth $787,000 after purchasing an additional 1,137 shares in the last quarter. Finally, KBC Group NV grew its stake in SPX Technologies by 2,109.8% in the fourth quarter. KBC Group NV now owns 28,617 shares of the company’s stock worth $4,164,000 after purchasing an additional 27,322 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on SPXC. B. Riley began coverage on SPX Technologies in a research note on Thursday. They issued a “buy” rating and a $195.00 price target for the company. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Oppenheimer upgraded SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $178.80.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $156.24 on Friday. 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 firm’s 50-day moving average price is $135.89 and its two-hundred day moving average price is $146.91. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $183.83. The stock has a market capitalization of $7.30 billion, a P/E ratio of 42.00, a P/E/G ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.22. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $482.60 million for the quarter, compared to analysts’ expectations of $481.32 million. During the same quarter last year, the company posted $1.25 earnings per share. SPX Technologies’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

SPX Technologies Company 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.