SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC decreased its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 307,064 shares of the company's stock after selling 114,968 shares during the period. Channing Capital Management LLC owned about 0.66% of SPX Technologies worth $44,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SPX Technologies by 18.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,362 shares of the company's stock worth $1,799,000 after purchasing an additional 1,957 shares in the last quarter. Amundi increased its stake in shares of SPX Technologies by 106.8% during the fourth quarter. Amundi now owns 29,051 shares of the company's stock worth $4,160,000 after purchasing an additional 15,006 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of SPX Technologies during the fourth quarter worth about $32,337,000. Arizona State Retirement System increased its stake in shares of SPX Technologies by 0.9% during the fourth quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock worth $1,955,000 after purchasing an additional 123 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of SPX Technologies by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 625,361 shares of the company's stock worth $91,003,000 after purchasing an additional 1,956 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

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SPX Technologies Trading Up 2.3 %

NYSE:SPXC traded up $3.02 on Friday, hitting $134.44. The stock had a trading volume of 197,753 shares, compared to its average volume of 254,954. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 1.33 and a beta of 1.26. The company has a fifty day moving average price of $145.37 and a two-hundred day moving average price of $154.35. SPX Technologies, Inc. has a 1-year low of $114.99 and a 1-year high of $183.83.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note on Wednesday, February 26th. Wolfe Research started coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an "outperform" rating and a $199.00 price objective for the company. UBS Group dropped their price objective 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 shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.