SPX Technologies, Inc. (NYSE:SPXC) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 29.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 623,405 shares of the company’s stock after purchasing an additional 142,544 shares during the period. Charles Schwab Investment Management Inc. owned 1.34% of SPX Technologies worth $99,408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies during the third quarter valued at $28,000. Crewe Advisors LLC purchased a new stake in SPX Technologies during the 2nd quarter valued at about $28,000. Canada Pension Plan Investment Board acquired a new position in shares of SPX Technologies in the second quarter valued at about $28,000. UMB Bank n.a. raised its stake in shares of SPX Technologies by 965.0% in the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after purchasing an additional 193 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of SPX Technologies during the third quarter worth about $44,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Performance

NYSE SPXC opened at $178.98 on Wednesday. SPX Technologies, Inc. has a fifty-two week low of $83.98 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. The firm has a market capitalization of $8.30 billion, a P/E ratio of 48.11, a PEG ratio of 1.76 and a beta of 1.22. The stock has a 50-day simple moving average of $162.86 and a two-hundred day simple moving average of $151.82.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company 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%. SPX Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. On average, equities analysts forecast that SPX Technologies, Inc. will post 5.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wolfe Research began coverage on shares of SPX Technologies in a research report on Monday. They set an “outperform” rating and a $199.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, SPX Technologies currently has a consensus rating of “Hold” and a consensus target price of $160.33.

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.