UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 11,824 Shares of SPX Technologies, Inc. (NYSE:SPXC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 188,776 shares of the company's stock after selling 11,824 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.41% of SPX Technologies worth $27,471,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC grew its holdings in SPX Technologies by 299.0% in the third quarter. Barclays PLC now owns 84,567 shares of the company's stock worth $13,485,000 after purchasing an additional 63,373 shares during the period. KBC Group NV grew its holdings in SPX Technologies by 2,109.8% in the fourth quarter. KBC Group NV now owns 28,617 shares of the company's stock worth $4,164,000 after purchasing an additional 27,322 shares during the period. Venturi Wealth Management LLC bought a new position in shares of SPX Technologies in the fourth quarter worth approximately $331,000. Comerica Bank lifted its stake in shares of SPX Technologies by 25.4% in the fourth quarter. Comerica Bank now owns 86,267 shares of the company's stock worth $12,554,000 after buying an additional 17,472 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of SPX Technologies by 0.9% in the fourth quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock worth $1,955,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

SPXC has been the topic of several analyst reports. B. Riley initiated coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price on the stock. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SPX Technologies has an average rating of "Buy" and an average price target of $178.80.

SPX Technologies Stock Performance

SPX Technologies stock traded up $0.62 during midday trading on Thursday, reaching $153.07. 191,854 shares of the company traded hands, compared to its average volume of 278,240. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The business has a 50 day moving average of $138.76 and a two-hundred day moving average of $146.79. SPX Technologies, Inc. has a 12 month low of $115.00 and a 12 month high of $183.83. 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 (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. As a group, research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

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.