Short Interest in SPX Technologies, Inc. (NYSE:SPXC) Declines By 16.9%

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 722,000 shares, a decrease of 16.9% from the February 28th total of 869,300 shares. Currently, 1.6% of the company's stock are short sold. Based on an average daily trading volume, of 307,600 shares, the short-interest ratio is currently 2.3 days.

Hedge Funds Weigh In On SPX Technologies

Large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company's stock worth $13,485,000 after purchasing an additional 63,373 shares during the period. Geode Capital Management LLC grew its position in shares of SPX Technologies by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company's stock valued at $164,888,000 after buying an additional 8,916 shares during the last quarter. Nordea Investment Management AB raised its stake in SPX Technologies by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 365,583 shares of the company's stock worth $53,203,000 after acquiring an additional 17,324 shares during the period. M&T Bank Corp lifted its holdings in SPX Technologies by 0.4% in the third quarter. M&T Bank Corp now owns 37,541 shares of the company's stock worth $5,986,000 after acquiring an additional 160 shares during the last quarter. Finally, KBC Group NV boosted its stake in SPX Technologies by 2,109.8% in the fourth quarter. KBC Group NV now owns 28,617 shares of the company's stock valued at $4,164,000 after acquiring an additional 27,322 shares during the period. 92.82% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SPXC shares. UBS Group dropped their target price on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Wednesday, February 26th. Finally, Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Two equities 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 an average rating of "Moderate Buy" and a consensus price target of $174.75.

SPX Technologies Stock Down 3.4 %

SPX Technologies stock traded down $4.28 during midday trading on Friday, hitting $122.56. The stock had a trading volume of 676,310 shares, compared to its average volume of 274,143. The business has a fifty day moving average price of $140.96 and a 200 day moving average price of $152.31. SPX Technologies has a 12 month low of $116.05 and a 12 month high of $183.83. The stock has a market cap of $5.68 billion, a P/E ratio of 32.95, a P/E/G ratio of 1.33 and a beta of 1.22. 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 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.