PNC Financial Services Group Inc. Cuts Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

PNC Financial Services Group Inc. decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXCFree Report) by 5.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,654 shares of the company’s stock after selling 579 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SPX Technologies were worth $1,405,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of SPX Technologies by 1.3% during the third quarter. State Street Corp now owns 1,729,989 shares of the company’s stock valued at $275,864,000 after acquiring an additional 22,177 shares in the last quarter. Geode Capital Management LLC increased its stake in SPX Technologies by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after purchasing an additional 8,916 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in SPX Technologies by 25.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock worth $114,640,000 after buying an additional 160,535 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of SPX Technologies by 45.3% in the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock worth $111,100,000 after buying an additional 217,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of SPX Technologies by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 625,361 shares of the company’s stock valued at $91,003,000 after buying an additional 1,956 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Up 2.3 %

SPX Technologies stock opened at $134.44 on Friday. The stock has a market cap of $6.24 billion, a PE ratio of 36.14, a price-to-earnings-growth 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. The stock has a fifty day moving average of $145.06 and a 200 day moving average of $154.15. SPX Technologies, Inc. has a one year low of $116.05 and a one year high of $183.83.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on SPX Technologies

About SPX Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for SPX Technologies (NYSE:SPXC)

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