Teacher Retirement System of Texas Trims Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Teacher Retirement System of Texas lowered its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 49.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,687 shares of the company's stock after selling 6,548 shares during the quarter. Teacher Retirement System of Texas' holdings in SPX Technologies were worth $973,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after acquiring an additional 90 shares in the last quarter. Empowered Funds LLC purchased a new stake in SPX Technologies during the fourth quarter worth $27,000. Skandinaviska Enskilda Banken AB publ grew its holdings in SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after purchasing an additional 185 shares during the last quarter. Spire Wealth Management purchased a new position in shares of SPX Technologies in the fourth quarter valued at $57,000. Finally, Hilltop National Bank raised its stake in shares of SPX Technologies by 19.9% during the 4th quarter. Hilltop National Bank now owns 536 shares of the company's stock worth $78,000 after buying an additional 89 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group cut their target price 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. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $174.75.

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SPX Technologies Trading Up 2.6 %

Shares of SPXC traded up $3.49 on Wednesday, hitting $135.99. 342,649 shares of the stock traded hands, compared to its average volume of 272,118. SPX Technologies, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83. The stock's 50 day moving average is $142.09 and its two-hundred day moving average is $152.73. The firm has a market capitalization of $6.31 billion, a P/E ratio of 36.56, 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 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.