EFG Asset Management North America Corp. Takes Position in SPX Technologies, Inc. (NYSE:SPXC)

EFG Asset Management North America Corp. acquired a new stake in SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,546 shares of the company’s stock, valued at approximately $1,245,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of SPX Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company’s stock valued at $732,153,000 after purchasing an additional 89,770 shares in the last quarter. State Street Corp increased its holdings in SPX Technologies by 1.3% during the third quarter. State Street Corp now owns 1,729,989 shares of the company’s stock valued at $275,864,000 after buying an additional 22,177 shares during the period. Geode Capital Management LLC raised its stake in SPX Technologies by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock worth $164,888,000 after buying an additional 8,916 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock worth $114,640,000 after buying an additional 160,535 shares during the period. Finally, Janus Henderson Group PLC boosted its position in SPX Technologies by 45.3% during the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after acquiring an additional 217,316 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Oppenheimer upgraded 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. UBS Group decreased their price target on shares of 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, Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SPX Technologies has an average rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Trading Up 0.1 %

Shares of NYSE:SPXC opened at $139.43 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The firm has a market capitalization of $6.47 billion, a P/E ratio of 37.48, a P/E/G ratio of 1.33 and a beta of 1.26. The business’s 50-day moving average is $144.18 and its 200 day moving average is $153.33. SPX Technologies, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83.

About SPX Technologies

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.