Artisan Partners Limited Partnership Reduces Position in SPX Technologies, Inc. (NYSE:SPXC)

Artisan Partners Limited Partnership reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 17.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 635,773 shares of the company's stock after selling 131,271 shares during the period. Artisan Partners Limited Partnership owned approximately 1.37% of SPX Technologies worth $92,518,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pathstone Holdings LLC increased its holdings in shares of SPX Technologies by 23.0% during the 3rd quarter. Pathstone Holdings LLC now owns 9,955 shares of the company's stock valued at $1,587,000 after purchasing an additional 1,861 shares in the last quarter. Citigroup Inc. increased its holdings in SPX Technologies by 50.6% in the third quarter. Citigroup Inc. now owns 69,138 shares of the company's stock valued at $11,025,000 after buying an additional 23,236 shares in the last quarter. Cerity Partners LLC raised its position in shares of SPX Technologies by 43.5% in the third quarter. Cerity Partners LLC now owns 3,434 shares of the company's stock worth $548,000 after acquiring an additional 1,041 shares during the period. Algert Global LLC boosted its stake in shares of SPX Technologies by 49.6% during the 3rd quarter. Algert Global LLC now owns 12,070 shares of the company's stock worth $1,925,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new stake in shares of SPX Technologies during the 3rd quarter worth about $319,000. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded up $3.52 during mid-day trading on Tuesday, reaching $132.30. 364,785 shares of the stock traded hands, compared to its average volume of 272,375. The stock has a market capitalization of $6.14 billion, a PE ratio of 35.56, a PEG ratio of 1.33 and a beta of 1.26. The business has a 50-day moving average of $142.44 and a 200 day moving average of $152.85. SPX Technologies, Inc. has a fifty-two week low of $116.05 and a fifty-two week 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.

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Analyst Ratings Changes

SPXC has been the subject of a number of analyst reports. Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report 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 dropped their price target on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.75.

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.