SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in SPX Technologies, Inc. (NYSE:SPXC) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,081 shares of the company’s stock after selling 24,118 shares during the period. Wellington Management Group LLP owned approximately 0.54% of SPX Technologies worth $36,246,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SPXC. Vanguard Group Inc. boosted its holdings in SPX Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company’s stock valued at $732,153,000 after purchasing an additional 89,770 shares in the last quarter. State Street Corp lifted its holdings in shares of SPX Technologies by 1.3% in the 3rd quarter. State Street Corp now owns 1,729,989 shares of the company’s stock valued at $275,864,000 after buying an additional 22,177 shares during the period. Geode Capital Management LLC boosted its stake in shares of SPX Technologies by 0.9% in 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 in the last quarter. Conestoga Capital Advisors LLC grew its holdings in SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock worth $114,640,000 after acquiring an additional 160,535 shares during the period. Finally, JPMorgan Chase & Co. raised its position in SPX Technologies by 16.1% in the fourth quarter. JPMorgan Chase & Co. now owns 685,445 shares of the company’s stock worth $99,746,000 after acquiring an additional 94,893 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

SPXC stock opened at $122.56 on Monday. The stock’s 50 day moving average price is $140.96 and its 200 day moving average price is $152.30. The firm has a market cap of $5.68 billion, a P/E ratio of 32.95, a PEG ratio of 1.33 and a beta of 1.22. 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, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83.

Analyst Ratings Changes

A number of research firms have recently 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. 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 report on Wednesday, February 26th. Finally, UBS Group reduced their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research 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. According to data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus 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.