SPX Technologies, Inc. (NYSE:SPXC) Stake Cut by Zacks Investment Management

Zacks Investment Management trimmed its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 26.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,869 shares of the company’s stock after selling 1,371 shares during the period. Zacks Investment Management’s holdings in SPX Technologies were worth $563,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Barclays PLC lifted its stake in SPX Technologies by 299.0% in the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after buying an additional 63,373 shares during the last quarter. Nordea Investment Management AB grew its position in SPX Technologies by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock worth $53,203,000 after purchasing an additional 17,324 shares during the last quarter. M&T Bank Corp raised its holdings in shares of SPX Technologies by 0.4% during the third quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock valued at $5,986,000 after buying an additional 160 shares during the last quarter. KBC Group NV grew its holdings in SPX Technologies by 2,109.8% in the 4th quarter. KBC Group NV now owns 28,617 shares of the company’s stock worth $4,164,000 after buying an additional 27,322 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in SPX Technologies by 666.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after acquiring an additional 513,526 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $128.21 on Friday. 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 company has a market capitalization of $6.00 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The stock has a fifty day moving average of $136.02 and a 200-day moving average of $149.75. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83.

SPX Technologies 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.