Inspire Investing LLC raised its stake in SPX Technologies, Inc. (NYSE:SPXC – Free Report) by 14,860.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,929 shares of the company’s stock after acquiring an additional 7,876 shares during the period. Inspire Investing LLC’s holdings in SPX Technologies were worth $1,585,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in SPXC. Pictet Asset Management Holding SA lifted its position in SPX Technologies by 9.8% in the 1st quarter. Pictet Asset Management Holding SA now owns 8,248 shares of the company’s stock valued at $1,649,000 after acquiring an additional 738 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in SPX Technologies during the 1st quarter worth about $2,879,000. Fifth Third Wealth Advisors LLC raised its stake in shares of SPX Technologies by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock valued at $286,000 after purchasing an additional 60 shares during the period. OP Asset Management Ltd bought a new stake in shares of SPX Technologies in the first quarter valued at about $1,073,000. Finally, Diversified Trust Co lifted its holdings in shares of SPX Technologies by 12.7% in the first quarter. Diversified Trust Co now owns 18,782 shares of the company’s stock valued at $3,755,000 after purchasing an additional 2,122 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.
SPX Technologies Stock Performance
Shares of NYSE SPXC opened at $232.08 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The stock has a 50 day moving average price of $221.71 and a 200 day moving average price of $216.40. The stock has a market capitalization of $11.62 billion, a PE ratio of 45.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. SPX Technologies, Inc. has a 52 week low of $168.61 and a 52 week high of $251.08.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Wells Fargo & Company boosted their target price on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. BMO Capital Markets assumed coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target for the company. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.44.
Get Our Latest Analysis on SPX Technologies
SPX Technologies Profile
SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.
The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.
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