NEOS Investment Management LLC Buys 7,592 Shares of SPX Technologies, Inc. (NYSE:SPXC)

NEOS Investment Management LLC boosted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 22.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,768 shares of the company’s stock after acquiring an additional 7,592 shares during the quarter. NEOS Investment Management LLC owned 0.09% of SPX Technologies worth $5,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of SPX Technologies by 299.0% in the third 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 in the last quarter. Geode Capital Management LLC lifted its stake in SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after acquiring an additional 8,916 shares in the last quarter. Nordea Investment Management AB boosted its position in SPX Technologies by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock worth $53,203,000 after acquiring an additional 17,324 shares during the last quarter. M&T Bank Corp grew its stake in shares of SPX Technologies by 0.4% during the 3rd quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock worth $5,986,000 after acquiring an additional 160 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of SPX Technologies by 2,109.8% in the fourth quarter. KBC Group NV now owns 28,617 shares of the company’s stock worth $4,164,000 after purchasing an additional 27,322 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

NYSE SPXC opened at $134.05 on Friday. The stock has a market cap of $6.22 billion, a PE ratio of 36.03, a P/E/G ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a 50-day moving average of $143.63 and a 200-day moving average of $153.08. SPX Technologies, Inc. has a 52-week low of $116.05 and a 52-week high of $183.83.

Analyst Ratings Changes

A number of research analysts recently weighed in on SPXC shares. Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a research report on Wednesday, February 26th. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, UBS Group decreased their price objective 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.75.

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.