Capital International Investors Has $14.85 Million Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Capital International Investors lessened its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 35.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,072 shares of the company's stock after selling 55,828 shares during the quarter. Capital International Investors owned 0.22% of SPX Technologies worth $14,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in SPX Technologies by 471.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,537 shares of the company's stock valued at $245,000 after buying an additional 1,268 shares in the last quarter. Barclays PLC grew its holdings in shares of SPX Technologies by 299.0% during the 3rd quarter. Barclays PLC now owns 84,567 shares of the company's stock valued at $13,485,000 after purchasing an additional 63,373 shares during the last quarter. M&T Bank Corp increased its position in SPX Technologies by 0.4% during the 3rd quarter. M&T Bank Corp now owns 37,541 shares of the company's stock worth $5,986,000 after purchasing an additional 160 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in SPX Technologies in the third quarter valued at approximately $194,000. Finally, Tidal Investments LLC increased its holdings in shares of SPX Technologies by 6.6% during the third quarter. Tidal Investments LLC now owns 3,026 shares of the company's stock worth $483,000 after buying an additional 188 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SPXC. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research report on Wednesday, February 26th. Finally, UBS Group decreased 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 report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SPX Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.75.

SPX Technologies Trading Up 0.2 %

NYSE SPXC traded up $0.27 during trading hours on Friday, hitting $133.77. 167,645 shares of the company's stock were exchanged, compared to its average volume of 279,630. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 35.96, a PEG ratio of 1.33 and a beta of 1.22. The stock has a 50-day simple moving average of $134.31 and a 200 day simple moving average of $148.94. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83.

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.