Swedbank AB Sells 30,000 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Swedbank AB cut its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,000 shares of the company's stock after selling 30,000 shares during the period. Swedbank AB owned 0.26% of SPX Technologies worth $17,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of SPX Technologies during the 3rd quarter worth about $28,000. ST Germain D J Co. Inc. bought a new stake in SPX Technologies in the third quarter valued at approximately $44,000. Farther Finance Advisors LLC raised its holdings in SPX Technologies by 247.9% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock worth $80,000 after purchasing an additional 357 shares during the period. Hilltop National Bank boosted its position in shares of SPX Technologies by 19.9% during the fourth quarter. Hilltop National Bank now owns 536 shares of the company's stock worth $78,000 after purchasing an additional 89 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of SPX Technologies by 65.2% in the 3rd quarter. Signaturefd LLC now owns 542 shares of the company's stock valued at $86,000 after buying an additional 214 shares during the period. 92.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPXC has been the topic of several research analyst reports. UBS Group dropped their price objective on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Sidoti cut SPX Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the company from $187.00 to $175.00 in a report on Friday, December 6th. Finally, Wolfe Research assumed coverage on SPX Technologies in a research report on Monday, November 25th. They issued an "outperform" rating and a $199.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, SPX Technologies has an average rating of "Hold" and a consensus target price of $168.50.

SPX Technologies Stock Up 1.8 %

SPX Technologies stock traded up $2.69 during mid-day trading on Tuesday, reaching $148.99. The company's stock had a trading volume of 75,612 shares, compared to its average volume of 310,080. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a 12 month low of $102.45 and a 12 month high of $183.83. The business's 50 day simple moving average is $152.90 and its 200 day simple moving average is $155.39. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29.

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.