SPX Technologies, Inc. (NYSE:SPXC) Stake Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 49.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,687 shares of the company’s stock after selling 6,548 shares during the period. Teacher Retirement System of Texas’ holdings in SPX Technologies were worth $973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Allworth Financial LP grew its position in shares of SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company’s stock valued at $25,000 after buying an additional 90 shares during the last quarter. Empowered Funds LLC acquired a new position in SPX Technologies in the fourth quarter valued at approximately $27,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock valued at $28,000 after purchasing an additional 185 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of SPX Technologies during the 4th quarter worth approximately $57,000. Finally, Hilltop National Bank lifted its holdings in shares of SPX Technologies by 19.9% in the 4th quarter. Hilltop National Bank now owns 536 shares of the company’s stock worth $78,000 after purchasing an additional 89 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SPXC shares. UBS Group lowered their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Finally, Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

SPX Technologies Price Performance

Shares of SPXC opened at $129.49 on Friday. SPX Technologies, Inc. has a one year low of $116.05 and a one year high of $183.83. The stock’s fifty day moving average is $143.26 and its 200-day moving average is $153.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26.

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.