Raymond James Financial Inc. Takes $32.34 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

Raymond James Financial Inc. bought a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 222,217 shares of the company’s stock, valued at approximately $32,337,000. Raymond James Financial Inc. owned approximately 0.48% of SPX Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SPXC. Allworth Financial LP increased its position 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 acquiring an additional 90 shares in the last quarter. Empowered Funds LLC acquired a new position in SPX Technologies in the 4th quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock valued at $28,000 after purchasing an additional 185 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of SPX Technologies in the fourth quarter valued at about $57,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Down 2.3 %

NYSE:SPXC opened at $127.99 on Thursday. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $183.83. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $137.05 and its two-hundred day moving average price is $150.25.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SPXC shares. UBS Group decreased their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research note on Wednesday, February 26th. Finally, Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies 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.