Wellington Management Group LLP Sells 24,118 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Wellington Management Group LLP trimmed its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,081 shares of the company's stock after selling 24,118 shares during the quarter. Wellington Management Group LLP owned 0.54% of SPX Technologies worth $36,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its stake in SPX Technologies by 123.3% in the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after purchasing an additional 90 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of SPX Technologies in the 4th quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after buying an additional 151 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after acquiring an additional 185 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $57,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of SPX Technologies stock traded up $2.48 during trading on Friday, reaching $132.10. The company's stock had a trading volume of 223,279 shares, compared to its average volume of 278,516. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 35.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The business's fifty day moving average price is $138.37 and its 200-day moving average price is $150.78.

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Analyst Ratings Changes

A number of research firms have recently weighed in on SPXC. UBS Group cut their price target on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. 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 research report on Wednesday, February 26th. Finally, Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Two equities 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, SPX Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target 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.