Moody National Bank Trust Division Invests $792,000 in SPX Technologies, Inc. (NYSE:SPXC)

Moody National Bank Trust Division bought a new stake in SPX Technologies, Inc. (NYSE:SPXC – Get Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,062 shares of the company’s stock, valued at approximately $792,000.

Other hedge funds also recently modified their holdings of the company. Amalgamated Bank boosted its stake in SPX Technologies by 0.7% in the 3rd quarter. Amalgamated Bank now owns 20,553 shares of the company’s stock worth $1,135,000 after buying an additional 145 shares during the last quarter. New Century Advisors LLC boosted its position in shares of SPX Technologies by 62.7% in the third quarter. New Century Advisors LLC now owns 506 shares of the company’s stock worth $28,000 after acquiring an additional 195 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in SPX Technologies by 0.6% in the first quarter. Great West Life Assurance Co. Can now owns 39,156 shares of the company’s stock valued at $1,982,000 after purchasing an additional 232 shares during the period. Synovus Financial Corp increased its position in SPX Technologies by 2.0% during the second quarter. Synovus Financial Corp now owns 12,578 shares of the company’s stock worth $665,000 after purchasing an additional 250 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in SPX Technologies by 1.8% during the third quarter. Victory Capital Management Inc. now owns 15,332 shares of the company’s stock worth $847,000 after purchasing an additional 277 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SPXC shares. Oppenheimer boosted their price objective on shares of SPX Technologies from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. StockNews.com initiated coverage on SPX Technologies in a research report on Thursday. They set a “hold” rating for the company.

SPX Technologies Stock Down 3.7 %

Shares of SPXC stock opened at $66.30 on Friday. SPX Technologies, Inc. has a fifty-two week low of $41.66 and a fifty-two week high of $78.30. The firm’s 50 day moving average price is $71.74 and its two-hundred day moving average price is $66.29. The company has a quick ratio of 1.43, a current ratio of 2.16 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. The firm had revenue of $429.30 million during the quarter, compared to analysts’ expectations of $416.00 million. SPX Technologies had a net margin of 0.01% and a return on equity of 13.14%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. Research analysts predict that SPX Technologies, Inc. will post 3.49 earnings per share for the current fiscal year.

SPX Technologies Company Profile

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SPX Technologies, Inc engages in the supply of infrastructure equipment. It operates through the HVAC and Detection and Measurement segments. The HVAC segment engineers, designs, manufactures, installs, and services cooling products and engineered air quality solutions to the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets.