Steward Partners Investment Advisory LLC Trims Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Steward Partners Investment Advisory LLC reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 74.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,161 shares of the company's stock after selling 11,933 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in SPX Technologies were worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after buying an additional 90 shares during the period. Empowered Funds LLC purchased a new stake in shares of SPX Technologies in the 4th quarter worth about $27,000. Spire Wealth Management purchased a new stake in shares of SPX Technologies in the 4th quarter worth about $57,000. Hilltop National Bank grew its position in shares of SPX Technologies by 19.9% in 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 period. Finally, Farther Finance Advisors LLC grew its position in shares of SPX Technologies by 247.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock worth $80,000 after buying an additional 357 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Price Performance

SPXC opened at $133.77 on Wednesday. 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 stock has a market capitalization of $6.20 billion, a P/E ratio of 35.96, a P/E/G ratio of 1.33 and a beta of 1.26. The company's 50-day simple moving average is $145.90 and its two-hundred day simple moving average is $154.65. SPX Technologies, Inc. has a 52-week low of $113.18 and a 52-week high of $183.83.

Wall Street Analysts Forecast Growth

SPXC has been the topic of a number of recent research reports. Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday, November 25th. They issued an "outperform" rating and a $199.00 target price on the stock. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Wednesday, February 26th. 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. Finally, Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.75.

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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.

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