Gotham Asset Management LLC Grows Stake in SPX Technologies, Inc. (NYSE:SPXC)

Gotham Asset Management LLC grew its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,782 shares of the company’s stock after purchasing an additional 432 shares during the period. Gotham Asset Management LLC’s holdings in SPX Technologies were worth $696,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its position in SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company’s stock valued at $25,000 after buying an additional 90 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of SPX Technologies during the fourth quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of SPX Technologies by 377.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock valued at $28,000 after purchasing an additional 185 shares during the last quarter. Finally, Covestor Ltd boosted its stake in SPX Technologies by 313.8% in the 4th quarter. Covestor Ltd now owns 389 shares of the company’s stock worth $57,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

SPXC has been the topic of several research analyst reports. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a research note on Wednesday, February 26th. Finally, B. Riley started coverage on SPX Technologies in a research report on Thursday. They issued a “buy” rating and a $195.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $178.80.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $156.24 on Monday. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $183.83. The business’s 50 day moving average price is $135.89 and its 200 day moving average price is $146.94. 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 has a market cap 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 announced its quarterly earnings data on Thursday, May 1st. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.16 by $0.22. The business had revenue of $482.60 million during the quarter, compared to analysts’ expectations of $481.32 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. On average, sell-side analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

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.