Harbor Capital Advisors Inc. decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 13.2% in the 4th quarter, Holdings Channel reports. The firm owned 7,587 shares of the company’s stock after selling 1,151 shares during the period. Harbor Capital Advisors Inc.’s holdings in SPX Technologies were worth $1,104,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in SPX Technologies during the second quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies during the 3rd quarter valued at $28,000. ST Germain D J Co. Inc. bought a new stake in shares of SPX Technologies during the 3rd quarter worth $44,000. Hilltop National Bank lifted its holdings in shares of SPX Technologies by 19.9% during the 4th quarter. Hilltop National Bank now owns 536 shares of the company’s stock worth $78,000 after acquiring an additional 89 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in SPX Technologies by 247.9% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock worth $80,000 after acquiring an additional 357 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on SPXC. Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. UBS Group dropped their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Wolfe Research started coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $168.50.
SPX Technologies Stock Performance
NYSE:SPXC opened at $140.59 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a fifty-two week low of $97.55 and a fifty-two week high of $183.83. The firm has a market cap of $6.52 billion, a PE ratio of 37.79, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30. The business has a 50 day moving average price of $158.53 and a 200-day moving average price of $155.25.
SPX Technologies (NYSE:SPXC – Get Free Report) last announced its quarterly 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. 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 analysts’ expectations of $501.02 million. During the same quarter in the prior year, the company posted $1.06 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that SPX Technologies, Inc. will post 5.56 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.
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