SPX Technologies, Inc. (NYSE:SPXC) Holdings Cut by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 17.1% during the 4th quarter, HoldingsChannel reports. The fund owned 635,773 shares of the company’s stock after selling 131,271 shares during the period. Artisan Partners Limited Partnership’s holdings in SPX Technologies were worth $92,518,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its position in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock valued at $25,000 after purchasing an additional 90 shares during the last quarter. Empowered Funds LLC acquired a new position in SPX Technologies in the 4th quarter worth about $27,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of SPX Technologies by 2,055.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after purchasing an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock valued at $29,000 after buying an additional 151 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in shares of SPX Technologies in the 4th quarter valued at approximately $57,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Down 1.5 %

Shares of SPX Technologies stock opened at $134.05 on Friday. SPX Technologies, Inc. has a 12-month low of $116.05 and a 12-month high of $183.83. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $143.63 and a two-hundred day moving average price of $153.08. The stock has a market capitalization of $6.22 billion, a P/E ratio of 36.03, a PEG ratio of 1.33 and a beta of 1.26.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer raised shares of 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. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, UBS Group reduced their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note 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 stock. According to data from MarketBeat.com, SPX Technologies 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.