Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 2,055.6% in the 4th quarter, Holdings Channel reports. The firm owned 194 shares of the company’s stock after acquiring an additional 185 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in SPX Technologies were worth $28,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew 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 purchasing an additional 90 shares in the last quarter. Empowered Funds LLC purchased a new stake in SPX Technologies in the fourth quarter worth approximately $27,000. Spire Wealth Management purchased a new stake in SPX Technologies in the fourth quarter worth approximately $57,000. Hilltop National Bank boosted its stake in SPX Technologies by 19.9% in the fourth quarter. Hilltop National Bank now owns 536 shares of the company’s stock worth $78,000 after buying an additional 89 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in SPX Technologies by 334.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 760 shares of the company’s stock worth $109,000 after buying an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $133.94 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a fifty-two week low of $116.05 and a fifty-two week high of $183.83. The stock has a 50 day moving average price of $144.64 and a two-hundred day moving average price of $153.75. The company has a market capitalization of $6.21 billion, a P/E ratio of 36.01, a PEG ratio of 1.33 and a beta of 1.26.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SPXC. Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. UBS Group cut their target price 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. Wolfe Research began coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price for the company. Finally, Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a research note on Wednesday, February 26th. Two investment 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $174.75.

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.