Earnest Partners LLC Decreases Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

Earnest Partners LLC lowered its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,025,458 shares of the company's stock after selling 7,888 shares during the quarter. Earnest Partners LLC owned approximately 2.21% of SPX Technologies worth $149,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SPXC. Oberweis Asset Management Inc. increased its position in SPX Technologies by 22.0% in the 4th quarter. Oberweis Asset Management Inc. now owns 75,400 shares of the company's stock valued at $10,972,000 after acquiring an additional 13,600 shares during the period. Hsbc Holdings PLC increased its holdings in shares of SPX Technologies by 61.4% in the fourth quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock valued at $1,620,000 after purchasing an additional 4,229 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of SPX Technologies by 3.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 69,214 shares of the company's stock worth $10,073,000 after purchasing an additional 2,354 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of SPX Technologies by 16.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,910 shares of the company's stock worth $569,000 after purchasing an additional 546 shares during the period. Finally, MetLife Investment Management LLC grew its position in SPX Technologies by 6.0% in the 4th quarter. MetLife Investment Management LLC now owns 27,069 shares of the company's stock valued at $3,939,000 after buying an additional 1,531 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 7.1 %

Shares of SPXC stock traded up $9.75 on Friday, reaching $146.42. 196,378 shares of the stock were exchanged, compared to its average volume of 279,141. 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 stock has a market cap of $6.85 billion, a P/E ratio of 39.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The firm has a 50 day moving average of $133.34 and a two-hundred day moving average of $147.84. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $481.32 million. During the same period in the previous year, the company posted $1.25 earnings per share. SPX Technologies's revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPXC. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. 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. Finally, UBS Group cut 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 report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $174.75.

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.