SPX Technologies, Inc. (NYSE:SPXC) Position Boosted by Navellier & Associates Inc.

Navellier & Associates Inc. raised its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 35.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,740 shares of the company’s stock after acquiring 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 quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Van Berkom & Associates Inc. purchased a new position in SPX Technologies during the 4th quarter valued at about $1,625,000. Private Advisor Group LLC grew its stake in SPX Technologies by 1.0% during the 4th quarter. Private Advisor Group LLC now owns 6,921 shares of the company’s stock valued at $1,007,000 after acquiring an additional 68 shares in the last quarter. Peregrine Capital Management LLC grew its stake in SPX Technologies by 1.8% during the 4th quarter. Peregrine Capital Management LLC now owns 92,411 shares of the company’s stock valued at $13,448,000 after acquiring an additional 1,646 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in SPX Technologies by 11.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,667 shares of the company’s stock valued at $243,000 after acquiring an additional 169 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in SPX Technologies during the 4th quarter valued at about $331,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Down 4.4 %

SPXC opened at $140.18 on Friday. The business has a 50 day moving average price of $148.06 and a 200 day moving average price of $155.56. SPX Technologies, Inc. has a twelve month low of $103.11 and a twelve month high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market cap of $6.50 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

Analyst Upgrades and Downgrades

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

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.