Prudential Financial Inc. Sells 1,729 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Prudential Financial Inc. lowered its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,774 shares of the company’s stock after selling 1,729 shares during the period. Prudential Financial Inc.’s holdings in SPX Technologies were worth $12,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in SPX Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company’s stock worth $732,153,000 after buying an additional 89,770 shares during the period. LPL Financial LLC grew its stake in shares of SPX Technologies by 24.3% in the fourth quarter. LPL Financial LLC now owns 12,924 shares of the company’s stock valued at $1,881,000 after acquiring an additional 2,526 shares in the last quarter. Fox Run Management L.L.C. bought a new position in SPX Technologies during the fourth quarter worth about $990,000. KLP Kapitalforvaltning AS acquired a new stake in SPX Technologies in the 4th quarter worth about $1,368,000. Finally, Xponance Inc. boosted its holdings in SPX Technologies by 12.0% in the 4th quarter. Xponance Inc. now owns 3,309 shares of the company’s stock valued at $482,000 after purchasing an additional 355 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of NYSE:SPXC opened at $134.05 on Friday. The company’s 50 day simple moving average is $143.63 and its 200 day simple moving average is $153.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a report on Wednesday, February 26th. Finally, UBS Group reduced their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.75.

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.