Natixis Advisors LLC Increases Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Natixis Advisors LLC increased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 24,468 shares of the company’s stock after acquiring an additional 2,276 shares during the period. Natixis Advisors LLC’s holdings in SPX Technologies were worth $3,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in SPX Technologies by 38.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,869 shares of the company’s stock worth $272,000 after acquiring an additional 515 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after acquiring an additional 185 shares during the period. Swiss National Bank lifted its stake in SPX Technologies by 0.9% in the fourth quarter. Swiss National Bank now owns 91,118 shares of the company’s stock worth $13,259,000 after acquiring an additional 800 shares during the period. Sequoia Financial Advisors LLC lifted its stake in SPX Technologies by 2.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company’s stock worth $493,000 after acquiring an additional 85 shares during the period. Finally, PFG Advisors purchased a new stake in SPX Technologies in the fourth quarter worth $280,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SPXC shares. Oppenheimer upgraded 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. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Wolfe Research started coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. Finally, UBS Group decreased their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Price Performance

SPXC opened at $134.10 on Friday. SPX Technologies, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83. The stock has a 50-day moving average price of $144.31 and a 200-day moving average price of $153.34. The firm has a market cap of $6.22 billion, a PE ratio of 36.05, 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 current ratio of 1.85 and a quick ratio of 1.19.

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.