SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 741,143 shares of the company's stock after selling 129,658 shares during the quarter. Alliancebernstein L.P. owned about 1.60% of SPX Technologies worth $107,851,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Private Advisor Group LLC boosted its holdings in SPX Technologies by 1.0% in the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company's stock valued at $1,007,000 after acquiring an additional 68 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in SPX Technologies by 1.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock worth $632,000 after purchasing an additional 68 shares in the last quarter. CIBC Asset Management Inc raised its holdings in SPX Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,383 shares of the company's stock valued at $201,000 after buying an additional 73 shares during the period. Sequoia Financial Advisors LLC lifted its position in SPX Technologies by 2.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company's stock valued at $493,000 after buying an additional 85 shares in the last quarter. Finally, Signaturefd LLC grew its stake in SPX Technologies by 15.9% during the fourth quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $91,000 after buying an additional 86 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

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SPX Technologies Stock Down 1.1 %

SPX Technologies stock traded down $1.38 during midday trading on Monday, hitting $120.96. 122,131 shares of the stock were exchanged, compared to its average volume of 273,584. The company has a 50 day moving average price of $140.96 and a two-hundred day moving average price of $152.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The firm has a market cap of $5.61 billion, a P/E ratio of 32.31, a P/E/G ratio of 1.33 and a beta of 1.22. SPX Technologies, Inc. has a 1 year low of $115.33 and a 1 year high of $183.83.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group reduced their target price on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Oppenheimer upgraded 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. Finally, Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, SPX Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $174.75.

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.