Emerald Advisers LLC Cuts Stake in SPX Technologies, Inc. (NYSE:SPXC)

Emerald Advisers LLC reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,558 shares of the company’s stock after selling 1,493 shares during the quarter. Emerald Advisers LLC owned about 0.28% of SPX Technologies worth $18,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SPXC. CIBC Asset Management Inc bought a new stake in SPX Technologies in the third quarter worth $209,000. Natixis Advisors LLC increased its position in SPX Technologies by 9.6% in the third quarter. Natixis Advisors LLC now owns 22,192 shares of the company’s stock worth $3,539,000 after purchasing an additional 1,948 shares during the last quarter. Swiss National Bank increased its position in SPX Technologies by 0.6% in the third quarter. Swiss National Bank now owns 90,318 shares of the company’s stock worth $14,402,000 after purchasing an additional 500 shares during the last quarter. Pathstone Holdings LLC increased its position in SPX Technologies by 23.0% in the third quarter. Pathstone Holdings LLC now owns 9,955 shares of the company’s stock worth $1,587,000 after purchasing an additional 1,861 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in SPX Technologies by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock worth $1,632,000 after purchasing an additional 158 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SPXC shares. Wolfe Research started coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective on the stock. Oppenheimer upgraded 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. UBS Group lowered their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Sidoti raised shares of 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 issued a buy rating to the stock. According to MarketBeat, SPX Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Stock Down 1.1 %

NYSE:SPXC opened at $134.10 on Friday. SPX Technologies, Inc. has a 1-year low of $116.05 and a 1-year high of $183.83. The company has a 50-day moving average of $144.31 and a 200 day moving average of $153.34. The firm has a market cap of $6.22 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

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.