SPX Technologies, Inc. $SPXC Position Lifted by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. increased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 17.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 343,103 shares of the company’s stock after purchasing an additional 50,700 shares during the quarter. Van Berkom & Associates Inc. owned approximately 0.68% of SPX Technologies worth $58,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Amundi boosted its stake in shares of SPX Technologies by 31.2% in the 2nd quarter. Amundi now owns 324,732 shares of the company’s stock valued at $79,645,000 after purchasing an additional 77,148 shares during the last quarter. Hsbc Holdings PLC raised its stake in SPX Technologies by 181.2% during the 2nd quarter. Hsbc Holdings PLC now owns 9,106 shares of the company’s stock worth $2,222,000 after buying an additional 5,868 shares during the period. Renaissance Technologies LLC acquired a new position in shares of SPX Technologies during the first quarter worth approximately $1,000,000. Squarepoint Ops LLC acquired a new position in shares of SPX Technologies during the second quarter valued at about $14,194,000. Finally, Bank of America Corp DE purchased a new stake in shares of SPX Technologies in the second quarter worth approximately $86,545,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPXC has been the subject of several analyst reports. Citigroup reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, October 30th. Zacks Research cut shares of SPX Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. B. Riley Financial reduced their price objective on shares of SPX Technologies from $285.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Wells Fargo & Company cut their price objective on SPX Technologies from $250.00 to $243.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Finally, Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.90.

Insider Transactions at SPX Technologies

In related news, Director Brian A. Deck bought 3,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were acquired at an average cost of $164.34 per share, with a total value of $493,020.00. Following the completion of the acquisition, the director owned 3,742 shares of the company’s stock, valued at $614,960.28. The trade was a 404.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.88% of the company’s stock.

SPX Technologies Stock Up 5.6%

SPXC stock opened at $150.68 on Tuesday. The business’s 50 day moving average price is $172.43 and its two-hundred day moving average price is $205.61. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.84. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.01 and a beta of 1.26. SPX Technologies, Inc. has a fifty-two week low of $137.86 and a fifty-two week high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.12 by $0.09. SPX Technologies had a return on equity of 16.96% and a net margin of 11.48%. The business had revenue of $714.50 million during the quarter, compared to analyst estimates of $710.38 million. During the same quarter last year, the firm posted $1.84 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, analysts forecast that SPX Technologies, Inc. will post 8.39 earnings per share for the current fiscal year.

SPX Technologies Profile

SPX Technologies, Inc is a global supplier of engineered products and technologies, serving customers in markets that include commercial and residential buildings, infrastructure, and industrial applications. The company operates through its HVAC and Detection and Measurement businesses.

Its HVAC products include cooling towers, boilers, heating equipment, ventilation and air treatment systems, and related components. Its Detection and Measurement business provides technologies used to locate and inspect underground utilities, as well as communication and measurement products for specialized applications.

SPX Technologies sells products and services to customers around the world through a portfolio of established brands.