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

NEOS Investment Management LLC grew its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 22.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,768 shares of the company’s stock after acquiring an additional 7,592 shares during the quarter. NEOS Investment Management LLC’s holdings in SPX Technologies were worth $5,933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SPXC. Barclays PLC boosted its holdings in 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 period. Geode Capital Management LLC raised its position in shares of SPX Technologies by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after buying an additional 8,916 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of SPX Technologies by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock valued at $53,203,000 after buying an additional 17,324 shares during the period. M&T Bank Corp grew its position in SPX Technologies by 0.4% during 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 grew its position in SPX Technologies by 2,109.8% during the fourth quarter. KBC Group NV now owns 28,617 shares of the company’s stock worth $4,164,000 after buying an additional 27,322 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Price Performance

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

Analyst Ratings Changes

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

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.