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

Wilmington Savings Fund Society FSB purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,216 shares of the company’s stock, valued at approximately $194,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Assetmark Inc. increased its position in SPX Technologies by 4.7% during the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after purchasing an additional 78 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of SPX Technologies by 4.3% during the second quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock valued at $503,000 after purchasing an additional 146 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in SPX Technologies by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock valued at $1,632,000 after buying an additional 158 shares during the period. M&T Bank Corp raised its stake in SPX Technologies by 0.4% in the third quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock worth $5,986,000 after buying an additional 160 shares in the last quarter. Finally, KBC Group NV lifted its holdings in SPX Technologies by 14.3% during the third quarter. KBC Group NV now owns 1,295 shares of the company’s stock worth $207,000 after buying an additional 162 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SPXC shares. Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $187.00 to $175.00 in a report on Friday, December 6th. Wolfe Research initiated coverage on SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SPX Technologies has a consensus rating of “Hold” and a consensus price target of $164.00.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $145.21 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The company has a market cap of $6.73 billion, a PE ratio of 39.03, a PEG ratio of 1.55 and a beta of 1.26. SPX Technologies, Inc. has a 12-month low of $95.00 and a 12-month high of $183.83. The business’s fifty day simple moving average is $164.13 and its 200-day simple moving average is $154.33.

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

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.