Lighthouse Investment Partners LLC Sells 6,000 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Lighthouse Investment Partners LLC lessened its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 24.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,000 shares of the company's stock after selling 6,000 shares during the quarter. Lighthouse Investment Partners LLC's holdings in SPX Technologies were worth $2,765,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Barclays PLC boosted 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 acquiring an additional 63,373 shares in the last quarter. KBC Group NV lifted its holdings in shares of SPX Technologies by 2,109.8% in the 4th 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 in the last quarter. Venturi Wealth Management LLC bought a new position in shares of SPX Technologies in the 4th quarter worth $331,000. Comerica Bank increased its stake in SPX Technologies by 25.4% during the 4th quarter. Comerica Bank now owns 86,267 shares of the company's stock valued at $12,554,000 after purchasing an additional 17,472 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in SPX Technologies by 0.9% during the 4th quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock valued at $1,955,000 after purchasing an additional 123 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPXC has been the subject of a number of analyst reports. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a report on Wednesday, February 26th. B. Riley initiated coverage on shares of SPX Technologies in a research report on Thursday. They issued a "buy" rating and a $195.00 price target on the stock. Finally, Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $178.80.

SPX Technologies Stock Up 0.1%

Shares of SPXC stock traded up $0.16 on Monday, hitting $156.18. The stock had a trading volume of 23,891 shares, compared to its average volume of 277,952. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The business has a 50 day moving average of $135.89 and a 200 day moving average of $146.94. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 41.89, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

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 (EPS) for the quarter, topping 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 business had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same period in the prior year, the firm posted $1.25 EPS. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts expect that SPX Technologies, Inc. will post 5.57 EPS 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.