SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Lighthouse Investment Partners LLC

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

A number of other large investors have also modified their holdings of SPXC. Janus Henderson Group PLC lifted its holdings in shares of SPX Technologies by 3.9% during the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after purchasing an additional 26,995 shares during the period. Gotham Asset Management LLC lifted its holdings in shares of SPX Technologies by 9.9% during the fourth quarter. Gotham Asset Management LLC now owns 4,782 shares of the company's stock worth $696,000 after purchasing an additional 432 shares during the period. Graham Capital Management L.P. lifted its holdings in shares of SPX Technologies by 68.8% during the fourth quarter. Graham Capital Management L.P. now owns 2,436 shares of the company's stock worth $354,000 after purchasing an additional 993 shares during the period. Ethic Inc. lifted its holdings in SPX Technologies by 20.4% in the fourth quarter. Ethic Inc. now owns 8,939 shares of the company's stock valued at $1,301,000 after acquiring an additional 1,512 shares during the period. Finally, Fred Alger Management LLC lifted its holdings in SPX Technologies by 18.5% in the fourth quarter. Fred Alger Management LLC now owns 167,900 shares of the company's stock valued at $24,433,000 after acquiring an additional 26,187 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SPXC. B. Riley began coverage on SPX Technologies in a report on Thursday. They issued a "buy" rating and a $195.00 price target for the company. Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Wednesday, February 26th. 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $178.80.

SPX Technologies Stock Up 1.2%

Shares of SPXC traded up $1.82 during mid-day trading on Friday, reaching $156.24. The company's stock had a trading volume of 193,686 shares, compared to its average volume of 278,489. 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 $7.30 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. 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 company's 50 day moving average is $135.89 and its 200 day moving average is $147.00.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings results 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 return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $482.60 million for the quarter, compared to the consensus estimate of $481.32 million. During the same quarter last year, the business posted $1.25 EPS. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal year.

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.