Cynosure Group LLC Invests $376,000 in SPX Technologies, Inc. (NYSE:SPXC)

Cynosure Group LLC purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,357 shares of the company’s stock, valued at approximately $376,000.

Several other large investors have also recently added to or reduced their stakes in SPXC. American Century Companies Inc. raised its holdings in shares of SPX Technologies by 195.2% during the second quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock worth $2,060,000 after purchasing an additional 9,582 shares during the period. Victory Capital Management Inc. raised its stake 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 acquiring an additional 10,010 shares during the period. Diversified Trust Co bought a new position in SPX Technologies in the second quarter worth about $798,000. Dana Investment Advisors Inc. acquired a new position in SPX Technologies in the second quarter valued at approximately $855,000. Finally, Mutual of America Capital Management LLC grew its holdings in shares of SPX Technologies by 212.5% during the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock valued at $3,786,000 after purchasing an additional 16,145 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wolfe Research assumed coverage on SPX Technologies in a report on Monday. They issued an “outperform” rating and a $199.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $160.33.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $175.00 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 47.04, a PEG ratio of 1.75 and a beta of 1.22. The stock’s 50 day moving average price is $163.50 and its 200 day moving average price is $152.14. SPX Technologies, Inc. has a 12 month low of $83.98 and a 12 month high of $183.83.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. During the same period in the previous year, the business earned $1.06 earnings per share. SPX Technologies’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

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.