Venturi Wealth Management LLC Invests $331,000 in SPX Technologies, Inc. (NYSE:SPXC)

Venturi Wealth Management LLC bought a new stake in SPX Technologies, Inc. (NYSE:SPXC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,275 shares of the company’s stock, valued at approximately $331,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its position in SPX Technologies by 212.5% in 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 buying an additional 16,145 shares during the last quarter. Barclays PLC lifted its stake in 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 during the period. Geode Capital Management LLC boosted its holdings in shares of SPX Technologies by 0.9% in the 3rd 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 last quarter. Nordea Investment Management AB increased its stake in shares of SPX Technologies by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock worth $53,203,000 after acquiring an additional 17,324 shares during the period. Finally, Corsair Capital Management L.P. increased its stake in shares of SPX Technologies by 80,185.2% in the third 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. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Down 1.7 %

SPXC opened at $146.54 on Friday. The company has a fifty day moving average of $148.29 and a two-hundred day moving average of $155.63. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 1.37 and a beta of 1.29. SPX Technologies, Inc. has a fifty-two week low of $103.11 and a fifty-two week high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SPXC shares. Wolfe Research began coverage on shares of SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target on the stock. UBS Group decreased their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $187.00 to $175.00 in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $168.50.

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.