Navellier & Associates Inc. Has $2.15 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

Navellier & Associates Inc. increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 35.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,740 shares of the company’s stock after purchasing an additional 3,847 shares during the quarter. Navellier & Associates Inc.’s holdings in SPX Technologies were worth $2,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPXC. Allworth Financial LP lifted its holdings in shares of SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after buying an additional 90 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of SPX Technologies during the fourth quarter worth approximately $27,000. Spire Wealth Management acquired a new position in shares of SPX Technologies during the fourth quarter worth approximately $57,000. Hilltop National Bank lifted its holdings in shares of SPX Technologies by 19.9% during the fourth quarter. Hilltop National Bank now owns 536 shares of the company’s stock worth $78,000 after buying an additional 89 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of SPX Technologies by 247.9% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock worth $80,000 after buying an additional 357 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $140.18 on Friday. The business has a fifty day simple moving average of $148.06 and a 200 day simple moving average of $155.56. 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 firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 1.33 and a beta of 1.29. SPX Technologies, Inc. has a one year low of $103.11 and a one year high of $183.83.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SPXC shares. Wolfe Research started coverage on SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. UBS Group cut their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $187.00 to $175.00 in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $168.50.

SPX Technologies Company 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.