Wellington Management Group LLP Lowers Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Wellington Management Group LLP trimmed its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,305 shares of the company’s stock after selling 605 shares during the quarter. Wellington Management Group LLP owned 0.78% of SPX Technologies worth $35,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in SPX Technologies by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,014,424 shares of the company’s stock valued at $408,174,000 after acquiring an additional 50,178 shares during the period. Ameriprise Financial Inc. boosted its holdings in SPX Technologies by 11.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company’s stock valued at $128,583,000 after acquiring an additional 165,544 shares during the period. FMR LLC boosted its holdings in SPX Technologies by 23.0% during the 3rd quarter. FMR LLC now owns 1,338,942 shares of the company’s stock valued at $108,990,000 after acquiring an additional 250,494 shares during the period. Artisan Partners Limited Partnership raised its position in SPX Technologies by 15.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 809,824 shares of the company’s stock valued at $81,800,000 after purchasing an additional 106,798 shares in the last quarter. Finally, Northern Trust Corp raised its position in SPX Technologies by 0.3% in the 3rd quarter. Northern Trust Corp now owns 510,197 shares of the company’s stock valued at $41,530,000 after purchasing an additional 1,466 shares in the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPXC. Oppenheimer increased their price target on SPX Technologies from $134.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a research report on Friday, May 3rd. StockNews.com lowered SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Finally, UBS Group increased their price target on SPX Technologies from $126.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $144.31 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 1.12. SPX Technologies, Inc. has a fifty-two week low of $76.61 and a fifty-two week high of $145.65. The firm has a market capitalization of $6.67 billion, a PE ratio of 70.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21. The stock’s 50-day simple moving average is $133.38 and its 200-day simple moving average is $116.82.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.19. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The business had revenue of $465.20 million for the quarter, compared to analyst estimates of $454.05 million. During the same quarter last year, the company earned $0.93 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts forecast that SPX Technologies, Inc. will post 5.36 EPS for the current fiscal year.

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.