Sequoia Financial Advisors LLC Grows Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Sequoia Financial Advisors LLC lifted its stake in SPX Technologies, Inc. (NYSE:SPXC) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,386 shares of the company’s stock after acquiring an additional 85 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in SPX Technologies were worth $493,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SPXC. Allworth Financial LP lifted its stake in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after purchasing an additional 90 shares in the last quarter. Empowered Funds LLC acquired a new position in SPX Technologies during the 4th quarter worth about $27,000. Spire Wealth Management acquired a new position in SPX Technologies during the 4th quarter worth about $57,000. Hilltop National Bank boosted its holdings in SPX Technologies by 19.9% during the 4th quarter. Hilltop National Bank now owns 536 shares of the company’s stock valued at $78,000 after acquiring an additional 89 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in SPX Technologies by 334.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 760 shares of the company’s stock worth $109,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPXC shares. UBS Group dropped their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wolfe Research assumed coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 target price on the stock. Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Wednesday, February 26th. Finally, Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SPX Technologies has an average rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $135.60 on Tuesday. The stock’s 50-day moving average is $144.80 and its two-hundred day moving average is $153.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 1.33 and a beta of 1.26.

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.