SPX Technologies, Inc. (NYSE:SPXC) Stock Position Raised by First Trust Advisors LP

First Trust Advisors LP boosted its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 54.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 553,320 shares of the company's stock after acquiring an additional 195,153 shares during the period. First Trust Advisors LP owned about 1.19% of SPX Technologies worth $80,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of SPX Technologies in the 4th quarter worth approximately $93,038,000. JPMorgan Chase & Co. lifted its stake in SPX Technologies by 666.7% in the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company's stock valued at $94,169,000 after buying an additional 513,526 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of SPX Technologies during the fourth quarter valued at $32,337,000. Conestoga Capital Advisors LLC grew its position in shares of SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock worth $114,640,000 after acquiring an additional 160,535 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of SPX Technologies by 1,260.7% in the 4th quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock worth $24,813,000 after acquiring an additional 157,981 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports 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. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, UBS Group lowered their price target on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.75.

SPX Technologies Price Performance

SPX Technologies stock traded up $4.49 during midday trading on Thursday, hitting $133.62. The company's stock had a trading volume of 257,809 shares, compared to its average volume of 280,078. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $183.83. 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's 50-day moving average price is $134.61 and its 200-day moving average price is $149.13. The company has a market capitalization of $6.25 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22.

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.