GW&K Investment Management LLC Lowers Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

GW&K Investment Management LLC decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 442,770 shares of the company's stock after selling 68,010 shares during the quarter. GW&K Investment Management LLC owned approximately 0.96% of SPX Technologies worth $64,432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Private Advisor Group LLC boosted its holdings in shares of SPX Technologies by 1.0% in the 4th quarter. Private Advisor Group LLC now owns 6,921 shares of the company's stock valued at $1,007,000 after buying an additional 68 shares in the last quarter. CIBC Asset Management Inc boosted its stake 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 acquiring an additional 73 shares in the last quarter. Assetmark Inc. boosted its stake in SPX Technologies by 4.7% in the third quarter. Assetmark Inc. now owns 1,745 shares of the company's stock valued at $278,000 after acquiring an additional 78 shares in the last quarter. Hilltop National Bank grew its holdings in shares of SPX Technologies by 19.9% during the fourth quarter. Hilltop National Bank now owns 536 shares of the company's stock worth $78,000 after purchasing an additional 89 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after purchasing an additional 90 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

SPXC has been the subject of a number of research analyst reports. Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Wednesday, February 26th. Wolfe Research started coverage on SPX Technologies in a report on Monday, November 25th. They issued an "outperform" rating and a $199.00 price objective for the company. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a 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 note on Tuesday, January 7th. Two investment 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, SPX Technologies currently has an average rating of "Moderate Buy" and an average price target of $174.75.

SPX Technologies Stock Performance

Shares of NYSE:SPXC traded down $1.13 during trading on Tuesday, reaching $137.47. The company had a trading volume of 321,460 shares, compared to its average volume of 315,880. SPX Technologies, Inc. has a fifty-two week low of $112.53 and a fifty-two week high of $183.83. 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 stock's fifty day moving average price is $147.01 and its 200 day moving average price is $155.39. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 36.95, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

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.