Geneva Capital Management LLC Sells 6,108 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Geneva Capital Management LLC reduced its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 447,177 shares of the company's stock after selling 6,108 shares during the period. SPX Technologies accounts for 1.1% of Geneva Capital Management LLC's holdings, making the stock its 28th biggest holding. Geneva Capital Management LLC owned 0.96% of SPX Technologies worth $65,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SPXC. Private Advisor Group LLC increased its position in 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 grew 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 during the period. Assetmark Inc. grew 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 during the period. Hilltop National Bank increased 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 valued at $78,000 after acquiring an additional 89 shares in the last quarter. Finally, Allworth Financial LP raised 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 during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

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SPX Technologies Stock Performance

NYSE SPXC traded down $3.79 during trading hours on Monday, reaching $133.14. 325,214 shares of the company were exchanged, compared to its average volume of 254,121. The stock has a market capitalization of $6.18 billion, a P/E ratio of 35.79, a P/E/G ratio of 1.33 and a beta of 1.26. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 1 year low of $113.18 and a 1 year high of $183.83. The business's 50 day simple moving average is $146.34 and its 200-day simple moving average is $154.97.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SPXC. UBS Group reduced 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 report on Tuesday, January 7th. Wolfe Research initiated coverage on shares of SPX Technologies in a report on Monday, November 25th. They set an "outperform" rating and a $199.00 price target on the stock. Oppenheimer upgraded shares of 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 shares of 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $174.75.

About SPX Technologies

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.