Pictet Asset Management Holding SA Grows Position in SPX Technologies, Inc. (NYSE:SPXC)

Pictet Asset Management Holding SA raised its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 9.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,922 shares of the company’s stock after purchasing an additional 616 shares during the quarter. Pictet Asset Management Holding SA’s holdings in SPX Technologies were worth $1,007,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Cerity Partners LLC lifted its holdings in SPX Technologies by 43.5% in the third quarter. Cerity Partners LLC now owns 3,434 shares of the company’s stock valued at $548,000 after acquiring an additional 1,041 shares during the period. Captrust Financial Advisors boosted its holdings in shares of SPX Technologies by 3.8% in the third quarter. Captrust Financial Advisors now owns 8,030 shares of the company’s stock worth $1,280,000 after buying an additional 292 shares during the last quarter. Verition Fund Management LLC purchased a new stake in SPX Technologies during the third quarter valued at approximately $481,000. Centiva Capital LP bought a new position in SPX Technologies in the third quarter worth approximately $361,000. Finally, HighTower Advisors LLC boosted its stake in shares of SPX Technologies by 24.2% during the 3rd quarter. HighTower Advisors LLC now owns 6,651 shares of the company’s stock worth $1,058,000 after acquiring an additional 1,295 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SPXC shares. UBS Group decreased their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Wednesday, February 26th. Finally, Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Stock Down 3.4 %

NYSE SPXC opened at $122.56 on Monday. SPX Technologies, Inc. has a 12 month low of $116.05 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 stock has a market cap of $5.68 billion, a PE ratio of 32.95, a P/E/G ratio of 1.33 and a beta of 1.22. The stock’s 50 day moving average is $140.96 and its 200 day moving average is $152.30.

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.