Geode Capital Management LLC Has $164.89 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

Geode Capital Management LLC increased its position in SPX Technologies, Inc. (NYSE:SPXC) by 0.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,033,825 shares of the company’s stock after acquiring an additional 8,916 shares during the period. Geode Capital Management LLC’s holdings in SPX Technologies were worth $164,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPXC. M&T Bank Corp increased 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 purchasing an additional 160 shares during the last quarter. Barclays PLC boosted its holdings in SPX Technologies by 299.0% in the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock worth $13,485,000 after purchasing an additional 63,373 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in SPX Technologies by 471.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,537 shares of the company’s stock worth $245,000 after buying an additional 1,268 shares during the last quarter. XTX Topco Ltd bought a new position in SPX Technologies during the third quarter valued at about $213,000. Finally, Zacks Investment Management acquired a new stake in shares of SPX Technologies in the third quarter worth about $836,000. Institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of analyst reports. Wolfe Research began coverage on SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective on the stock. Sidoti cut SPX Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SPX Technologies has an average rating of “Hold” and an average target price of $164.00.

SPX Technologies Stock Down 1.7 %

SPXC stock opened at $155.53 on Monday. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 1.55 and a beta of 1.26. The company has a 50-day moving average of $164.82 and a two-hundred day moving average of $154.18. SPX Technologies, Inc. has a 52-week low of $93.02 and a 52-week high of $183.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 EPS. As a group, equities research analysts anticipate that SPX Technologies, Inc. will post 5.56 EPS for the current 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.