Silvercrest Asset Management Group LLC Sells 16,242 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Silvercrest Asset Management Group LLC cut its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,752 shares of the company's stock after selling 16,242 shares during the period. Silvercrest Asset Management Group LLC owned 0.51% of SPX Technologies worth $34,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SPXC. Vanguard Group Inc. increased its holdings in SPX Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock worth $732,153,000 after purchasing an additional 89,770 shares in the last quarter. Invesco Ltd. increased its holdings in shares of SPX Technologies by 3.4% during the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after purchasing an additional 37,468 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of SPX Technologies by 25.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock worth $114,640,000 after buying an additional 160,535 shares in the last quarter. Janus Henderson Group PLC raised its stake in 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 acquiring an additional 26,995 shares in the last quarter. Finally, FMR LLC grew its stake in shares of SPX Technologies by 8.5% during the fourth quarter. FMR LLC now owns 718,298 shares of the company's stock worth $104,527,000 after buying an additional 56,175 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Trading Down 0.4%

SPXC stock traded down $0.64 during midday trading on Tuesday, hitting $155.61. The stock had a trading volume of 184,146 shares, compared to its average volume of 278,480. The firm has a market cap of $7.27 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83. The business has a fifty day moving average price of $136.34 and a two-hundred day moving average price of $147.02.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating 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 business had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same quarter in the previous year, the business earned $1.25 earnings per share. SPX Technologies's revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPXC has been the subject of a number of recent research reports. B. Riley initiated coverage on SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective for the company. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, Oppenheimer upgraded 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. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $178.80.

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.