Bank of New York Mellon Corp Trims Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Bank of New York Mellon Corp lowered its position in SPX Technologies, Inc. (NYSE:SPXC) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,469 shares of the company’s stock after selling 8,244 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.74% of SPX Technologies worth $49,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in SPX Technologies by 247.9% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock worth $80,000 after acquiring an additional 357 shares during the period. Assetmark Inc. boosted its stake in shares of SPX Technologies by 4.7% during the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after acquiring an additional 78 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in SPX Technologies by 13.6% during the third quarter. Crossmark Global Holdings Inc. now owns 3,655 shares of the company’s stock worth $583,000 after buying an additional 438 shares during the period. Peregrine Asset Advisers Inc. purchased a new position in SPX Technologies during the third quarter worth about $2,595,000. Finally, Victory Capital Management Inc. raised its holdings in shares of SPX Technologies by 196.9% in the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company’s stock worth $34,921,000 after purchasing an additional 145,225 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of research reports. Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock. Oppenheimer upgraded SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a research report on Wednesday, February 26th. UBS Group lowered their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.75.

SPX Technologies Trading Up 3.0 %

Shares of SPX Technologies stock opened at $141.30 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The business has a fifty day simple moving average of $146.72 and a 200-day simple moving average of $155.19. SPX Technologies, Inc. has a fifty-two week low of $113.18 and a fifty-two week high of $183.83.

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.