Wilmington Savings Fund Society FSB Invests $194,000 in SPX Technologies, Inc. (NYSE:SPXC)

Wilmington Savings Fund Society FSB bought a new position in SPX Technologies, Inc. (NYSE:SPXC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,216 shares of the company’s stock, valued at approximately $194,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPXC. American Century Companies Inc. grew its stake in shares of SPX Technologies by 195.2% in the 2nd quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock worth $2,060,000 after buying an additional 9,582 shares in the last quarter. Victory Capital Management Inc. grew its position in SPX Technologies by 15.7% in the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock worth $10,485,000 after acquiring an additional 10,010 shares in the last quarter. Dana Investment Advisors Inc. bought a new stake in SPX Technologies during the second quarter worth approximately $855,000. Mutual of America Capital Management LLC raised its position in SPX Technologies by 212.5% during the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock valued at $3,786,000 after purchasing an additional 16,145 shares during the period. Finally, Barclays PLC lifted its stake in shares of SPX Technologies by 299.0% in the 3rd quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after purchasing an additional 63,373 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Price Performance

SPXC opened at $145.21 on Thursday. 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 business has a fifty day moving average of $164.13 and a 200 day moving average of $154.33. SPX Technologies, Inc. has a 52-week low of $95.00 and a 52-week high of $183.83. The stock has a market cap of $6.73 billion, a P/E ratio of 39.03, a PEG ratio of 1.55 and a beta of 1.26.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 earnings per share. As a group, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPXC shares. Wolfe Research began coverage on SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price on the stock. Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $187.00 to $175.00 in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Hold” and an average target price of $164.00.

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.