Envestnet Asset Management Inc. Sells 590 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Envestnet Asset Management Inc. lowered its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 132,865 shares of the company’s stock after selling 590 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of SPX Technologies worth $19,335,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in SPXC. Vanguard Group Inc. grew its stake in shares of SPX Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company’s stock valued at $732,153,000 after buying an additional 89,770 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 8,916 shares during the period. Conestoga Capital Advisors LLC grew its position in SPX Technologies by 25.6% during the 4th 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 last quarter. JPMorgan Chase & Co. increased its stake in SPX Technologies by 16.1% in the 4th quarter. JPMorgan Chase & Co. now owns 685,445 shares of the company’s stock worth $99,746,000 after purchasing an additional 94,893 shares during the period. Finally, Norges Bank bought a new stake in SPX Technologies in the fourth quarter valued at approximately $93,038,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analyst Weigh In

SPXC has been the topic of several analyst reports. Oppenheimer raised 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. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, UBS Group lowered their price objective 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Stock Down 0.8 %

Shares of SPX Technologies stock opened at $130.99 on Tuesday. The company’s fifty day simple moving average is $137.93 and its two-hundred day simple moving average is $150.53. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83. 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 $6.13 billion, a P/E ratio of 35.21, a PEG ratio of 1.33 and a beta of 1.22.

SPX Technologies 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.