Franklin Resources Inc. Acquires 157,981 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Franklin Resources Inc. boosted its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 1,260.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,512 shares of the company’s stock after purchasing an additional 157,981 shares during the quarter. Franklin Resources Inc. owned about 0.37% of SPX Technologies worth $24,813,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in shares of SPX Technologies by 1.0% in the 4th quarter. Private Advisor Group LLC now owns 6,921 shares of the company’s stock valued at $1,007,000 after buying an additional 68 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in SPX Technologies by 1.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company’s stock valued at $632,000 after acquiring an additional 68 shares during the period. CIBC Asset Management Inc increased its holdings in shares of SPX Technologies by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,383 shares of the company’s stock valued at $201,000 after acquiring an additional 73 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of SPX Technologies by 2.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company’s stock worth $493,000 after purchasing an additional 85 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of SPX Technologies by 15.9% in the 4th quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $91,000 after purchasing an additional 86 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on SPXC. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. UBS Group cut their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, 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 research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

SPX Technologies Stock Down 3.4 %

SPX Technologies stock opened at $122.56 on Monday. SPX Technologies, Inc. has a fifty-two week low of $116.05 and a fifty-two week high of $183.83. 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 firm’s 50-day simple moving average is $140.96 and its 200 day simple moving average is $152.30. The stock has a market cap of $5.68 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22.

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.