Truist Financial Corp Sells 856 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Truist Financial Corp decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 14.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,266 shares of the company’s stock after selling 856 shares during the period. Truist Financial Corp’s holdings in SPX Technologies were worth $766,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in shares of SPX Technologies by 247.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock valued at $80,000 after buying an additional 357 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its position in shares of SPX Technologies by 30.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 97,982 shares of the company’s stock worth $15,624,000 after buying an additional 22,645 shares during the last quarter. Emerald Advisers LLC lifted its stake in shares of SPX Technologies by 40.6% in the 3rd quarter. Emerald Advisers LLC now owns 132,051 shares of the company’s stock valued at $21,057,000 after purchasing an additional 38,161 shares during the period. Assetmark Inc. lifted its stake in shares of SPX Technologies by 4.7% in the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after purchasing an additional 78 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of SPX Technologies by 13.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,655 shares of the company’s stock valued at $583,000 after purchasing an additional 438 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SPXC shares. Wolfe Research began coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target for the company. Oppenheimer upgraded 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. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday. Finally, UBS Group cut their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $145.55 on Friday. The firm has a fifty day moving average price of $147.15 and a 200 day moving average price of $155.45. The company has a market cap of $6.75 billion, a P/E ratio of 39.13, a PEG ratio of 1.33 and a beta of 1.29. SPX Technologies, Inc. has a 12 month low of $112.53 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.

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.