Redhawk Wealth Advisors Inc. Has $2.79 Million Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Redhawk Wealth Advisors Inc. grew its stake in SPX Technologies, Inc. (NYSE:SPXC) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,143 shares of the company’s stock after purchasing an additional 883 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in SPX Technologies were worth $2,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in shares of SPX Technologies by 195.2% in the second quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock valued at $2,060,000 after purchasing an additional 9,582 shares in the last quarter. Dana Investment Advisors Inc. acquired a new position in shares of SPX Technologies in the 2nd quarter valued at $855,000. Mutual of America Capital Management LLC lifted its holdings in shares of SPX Technologies by 212.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock worth $3,786,000 after acquiring an additional 16,145 shares during the period. Barclays PLC boosted its position in shares of SPX Technologies by 299.0% during the 3rd quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after acquiring an additional 63,373 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in SPX Technologies by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after acquiring an additional 8,916 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

NYSE SPXC opened at $148.68 on Thursday. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 39.97, a PEG ratio of 1.25 and a beta of 1.30. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 1-year low of $97.55 and a 1-year high of $183.83. The company has a 50 day moving average of $158.33 and a 200-day moving average of $155.27.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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