Arrowstreet Capital Limited Partnership Sells 42,532 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Arrowstreet Capital Limited Partnership lowered its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 68.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,790 shares of the company's stock after selling 42,532 shares during the period. Arrowstreet Capital Limited Partnership's holdings in SPX Technologies were worth $2,880,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SPXC. Allworth Financial LP lifted its position in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after purchasing an additional 90 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of SPX Technologies during the 4th quarter worth $27,000. Skandinaviska Enskilda Banken AB publ grew its position in SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after acquiring an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in SPX Technologies during the fourth quarter valued at about $57,000. Institutional investors own 92.82% of the company's stock.

SPX Technologies Trading Down 0.9 %

Shares of NYSE SPXC traded down $1.25 during mid-day trading on Monday, hitting $130.81. The stock had a trading volume of 90,574 shares, compared to its average volume of 277,640. The business has a 50 day moving average price of $138.37 and a two-hundred day moving average price of $150.73. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year 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 cap of $6.12 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22.

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Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SPXC. 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 report on Wednesday, February 26th. UBS Group lowered their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.75.

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.