Edgestream Partners L.P. Reduces Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Edgestream Partners L.P. decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,153 shares of the company’s stock after selling 1,067 shares during the period. Edgestream Partners L.P.’s holdings in SPX Technologies were worth $895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC grew its stake in shares of SPX Technologies by 212.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock valued at $3,786,000 after purchasing an additional 16,145 shares during the period. Barclays PLC grew its position in SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after buying an additional 63,373 shares during the period. Geode Capital Management LLC increased its holdings in SPX Technologies by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after buying an additional 8,916 shares during the last quarter. Corsair Capital Management L.P. raised its position in SPX Technologies by 80,185.2% in the third quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock worth $18,179,000 after acquiring an additional 113,863 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of SPX Technologies by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock worth $53,203,000 after acquiring an additional 17,324 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Wednesday, February 26th. UBS Group lowered their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Wolfe Research initiated coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Stock Performance

NYSE SPXC opened at $133.77 on Wednesday. The business’s 50 day moving average price is $145.90 and its 200-day moving average price is $154.65. SPX Technologies, Inc. has a fifty-two week low of $113.18 and a fifty-two week high of $183.83. The company has a market cap 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 has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

SPX Technologies Company 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.