SPX Technologies, Inc. (NYSE:SPXC) Shares Bought by Hilltop National Bank

Hilltop National Bank boosted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 19.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 536 shares of the company’s stock after buying an additional 89 shares during the quarter. Hilltop National Bank’s holdings in SPX Technologies were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPXC. Commonwealth Equity Services LLC acquired a new position in SPX Technologies during the second quarter worth about $394,000. Victory Capital Management Inc. grew its position in SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock worth $10,485,000 after buying an additional 10,010 shares during the period. Private Advisor Group LLC acquired a new stake in shares of SPX Technologies in the second quarter valued at approximately $979,000. Acadian Asset Management LLC acquired a new stake in shares of SPX Technologies in the second quarter valued at approximately $856,000. Finally, Choreo LLC acquired a new stake in shares of SPX Technologies in the second quarter valued at approximately $282,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of SPXC opened at $137.84 on Friday. 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 company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 1.55 and a beta of 1.30. The company’s 50 day simple moving average is $158.68 and its 200 day simple moving average is $155.08. SPX Technologies, Inc. has a 1 year low of $97.16 and a 1 year high of $183.83.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. SPX Technologies’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. On average, sell-side analysts predict that SPX Technologies, Inc. will post 5.56 EPS for the current year.

Analysts Set New Price Targets

SPXC has been the topic of several research reports. Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target on the stock. Sidoti lowered shares of 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 report on Friday, December 6th. Finally, UBS Group lowered their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $168.50.

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.