SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 940,724 shares of the company's stock after selling 119,086 shares during the quarter. Ameriprise Financial Inc. owned 2.03% of SPX Technologies worth $136,894,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP grew its stake in SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after acquiring an additional 90 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of SPX Technologies in the fourth quarter valued at approximately $27,000. Skandinaviska Enskilda Banken AB publ grew its stake in SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after purchasing an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the period. Finally, Spire Wealth Management bought a new stake in SPX Technologies during the 4th quarter valued at $57,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SPXC shares. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. 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 report on Wednesday, February 26th.

SPX Technologies Stock Up 1.5%

SPXC traded up $2.37 on Tuesday, hitting $156.60. The company had a trading volume of 36,532 shares, compared to its average volume of 276,780. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 42.10, a P/E/G ratio of 1.33 and a beta of 1.21. 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 stock has a fifty day moving average price of $134.30 and a 200-day moving average price of $146.94. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.16 by $0.22. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $482.60 million during the quarter, compared to analyst estimates of $481.32 million. During the same quarter in the previous year, the business posted $1.25 EPS. SPX Technologies's revenue was up 3.7% on a year-over-year basis. Analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

SPX Technologies 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.