Healthcare of Ontario Pension Plan Trust Fund Acquires 20,417 Shares of SPX Technologies, Inc. $SPXC

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 378.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 25,811 shares of the company’s stock after acquiring an additional 20,417 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in SPX Technologies were worth $5,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. raised its stake in SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after acquiring an additional 45 shares in the last quarter. Lido Advisors LLC boosted its stake in shares of SPX Technologies by 1.6% in the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after purchasing an additional 50 shares in the last quarter. Intrust Bank NA grew its holdings in shares of SPX Technologies by 3.6% during the 4th quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of SPX Technologies by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock valued at $286,000 after purchasing an additional 60 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in SPX Technologies by 7.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock worth $188,000 after purchasing an additional 62 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wolfe Research restated an “outperform” rating and issued a $266.00 target price on shares of SPX Technologies in a research report on Thursday, July 9th. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price target on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Oppenheimer restated an “outperform” rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. Finally, Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies has an average rating of “Moderate Buy” and an average price target of $255.30.

SPX Technologies Trading Down 7.8%

SPXC opened at $188.39 on Thursday. SPX Technologies, Inc. has a fifty-two week low of $177.63 and a fifty-two week high of $251.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 1.50 and a beta of 1.27. The company’s 50 day moving average price is $224.50 and its two-hundred day moving average price is $217.64.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million during the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. As a group, research analysts predict that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.