Rhumbline Advisers Sells 1,322 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Rhumbline Advisers cut its stake in SPX Technologies, Inc. (NYSE:SPXC) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,260 shares of the company’s stock after selling 1,322 shares during the quarter. Rhumbline Advisers owned about 0.26% of SPX Technologies worth $17,646,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its position in SPX Technologies by 212.5% during the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock valued at $3,786,000 after purchasing an additional 16,145 shares in the last quarter. Barclays PLC lifted its position in shares of SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after buying an additional 63,373 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of SPX Technologies by 0.9% in the 3rd 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. Nordea Investment Management AB grew its position in shares of SPX Technologies by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock worth $53,203,000 after buying an additional 17,324 shares during the last quarter. Finally, Corsair Capital Management L.P. grew its position in shares of SPX Technologies by 80,185.2% in the 3rd quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock worth $18,179,000 after buying an additional 113,863 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Down 4.4 %

NYSE:SPXC opened at $140.18 on Friday. SPX Technologies, Inc. has a twelve month low of $103.11 and a twelve month high of $183.83. The company’s 50 day moving average is $148.06 and its two-hundred day moving average is $155.56. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The company has a market cap of $6.50 billion, a PE ratio of 37.68, a P/E/G ratio of 1.35 and a beta of 1.29.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SPXC. UBS Group lowered their target price 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. Wolfe Research began coverage on SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective for the company. Finally, Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SPX Technologies currently has a consensus rating of “Hold” and an average price target of $168.50.

SPX Technologies Company Profile

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.