Victory Capital Management Inc. Lowers Stake in SPX Technologies, Inc. (NYSE:SPXC)

Victory Capital Management Inc. cut its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 193,983 shares of the company's stock after selling 25,010 shares during the period. Victory Capital Management Inc. owned about 0.42% of SPX Technologies worth $28,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in 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 buying an additional 90 shares during the period. Empowered Funds LLC acquired a new stake in shares of SPX Technologies during the fourth quarter worth $27,000. Spire Wealth Management bought a new stake in SPX Technologies in the 4th quarter valued at $57,000. Hilltop National Bank boosted its stake in 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 purchasing an additional 89 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in SPX Technologies by 247.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock worth $80,000 after purchasing an additional 357 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Trading Up 2.3 %

Shares of SPX Technologies stock traded up $3.02 during trading on Friday, hitting $134.44. The company's stock had a trading volume of 197,753 shares, compared to its average volume of 254,954. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. SPX Technologies, Inc. has a 52 week low of $114.99 and a 52 week high of $183.83. The stock has a 50-day moving average price of $145.37 and a two-hundred day moving average price of $154.35. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

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Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SPXC shares. Wolfe Research began coverage on SPX Technologies in a research report on Monday, November 25th. They set an "outperform" rating and a $199.00 price target for the company. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. 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. Finally, UBS Group lowered their target price on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus 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.