Integrated Quantitative Investments LLC Acquires New Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Integrated Quantitative Investments LLC purchased a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,418 shares of the company’s stock, valued at approximately $1,371,000. SPX Technologies comprises about 0.7% of Integrated Quantitative Investments LLC’s holdings, making the stock its 23rd biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank boosted its holdings in SPX Technologies by 17.6% in the fourth quarter. Huntington National Bank now owns 587 shares of the company’s stock valued at $85,000 after purchasing an additional 88 shares during the last quarter. Headlands Technologies LLC acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $206,000. Diametric Capital LP increased its position in shares of SPX Technologies by 17.6% in the fourth quarter. Diametric Capital LP now owns 1,999 shares of the company’s stock valued at $291,000 after buying an additional 299 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of SPX Technologies by 1,260.7% during the 4th quarter. Franklin Resources Inc. now owns 170,512 shares of the company’s stock valued at $24,813,000 after buying an additional 157,981 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in SPX Technologies by 9.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,922 shares of the company’s stock worth $1,007,000 after acquiring an additional 616 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Down 6.2 %

SPXC stock opened at $127.25 on Friday. The firm has a market cap of $5.90 billion, a PE ratio of 34.21, a PEG ratio of 1.33 and a beta of 1.22. SPX Technologies, Inc. has a one year low of $116.05 and a one year 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. The firm’s 50 day moving average price is $141.55 and its 200-day moving average price is $152.55.

Analyst Ratings Changes

Several equities research analysts have commented on SPXC shares. Oppenheimer upgraded SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a research note on Wednesday, February 26th. Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, UBS Group lowered their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.75.

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.