SPX Technologies, Inc. (NYSE:SPXC) Shares Acquired by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC boosted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 25.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 787,795 shares of the company’s stock after acquiring an additional 160,535 shares during the period. Conestoga Capital Advisors LLC’s holdings in SPX Technologies were worth $114,640,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SPXC. JPMorgan Chase & Co. grew its stake in shares of SPX Technologies by 666.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after purchasing an additional 513,526 shares during the last quarter. Janus Henderson Group PLC grew its position in SPX Technologies by 45.3% in the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after buying an additional 217,316 shares during the last quarter. Victory Capital Management Inc. increased its stake in SPX Technologies by 196.9% in the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock valued at $34,921,000 after buying an additional 145,225 shares during the period. Charles Schwab Investment Management Inc. raised its position in SPX Technologies by 29.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company’s stock worth $99,408,000 after buying an additional 142,544 shares during the last quarter. Finally, Corsair Capital Management L.P. lifted its stake in shares of SPX Technologies by 80,185.2% in the 3rd quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock worth $18,179,000 after acquiring an additional 113,863 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Price Performance

NYSE:SPXC opened at $148.27 on Monday. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 39.86, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. SPX Technologies, Inc. has a 12-month low of $100.59 and a 12-month high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average is $153.60 and its two-hundred day moving average is $155.37.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several analyst reports. UBS Group cut their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Finally, Wolfe Research began coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, SPX Technologies presently has an average rating of “Hold” and an average 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.