7,874 Shares in SPX Technologies, Inc. (NYSE:SPXC) Bought by Wealthstar Advisors LLC

Wealthstar Advisors LLC bought a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,874 shares of the company's stock, valued at approximately $1,146,000.

A number of other institutional investors have also recently modified their holdings of SPXC. Empowered Funds LLC purchased a new stake in shares of SPX Technologies during the fourth quarter valued at $27,000. Guidance Capital Inc. purchased a new stake in shares of SPX Technologies during the fourth quarter valued at $460,000. Conestoga Capital Advisors LLC boosted its position in shares of SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after buying an additional 160,535 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of SPX Technologies during the fourth quarter valued at $57,000. Finally, Pacer Advisors Inc. boosted its position in shares of SPX Technologies by 28.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,083 shares of the company's stock valued at $158,000 after buying an additional 238 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SPXC shares. Sidoti cut SPX Technologies from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $187.00 to $175.00 in a research report on Friday, December 6th. 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 report on Tuesday, January 7th. 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 target price on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $168.50.

SPX Technologies Price Performance

Shares of SPXC traded up $0.91 during mid-day trading on Thursday, hitting $151.23. 206,441 shares of the stock were exchanged, compared to its average volume of 293,015. The company has a market cap of $7.01 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. SPX Technologies, Inc. has a 52-week low of $103.11 and a 52-week high of $183.83. The firm has a 50-day moving average of $149.48 and a two-hundred day moving average of $155.49. 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 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.