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

Silvercrest Asset Management Group LLC decreased its stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,752 shares of the company's stock after selling 16,242 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.51% of SPX Technologies worth $34,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPXC. Allworth Financial LP grew its holdings in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after purchasing an additional 90 shares during the period. Empowered Funds LLC bought a new position in shares of SPX Technologies during the 4th quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after acquiring an additional 151 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after acquiring an additional 185 shares during the period. Finally, Covestor Ltd lifted its holdings in SPX Technologies by 313.8% during the 4th quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Wednesday, February 26th. Finally, B. Riley initiated coverage on SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 price objective for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $178.80.

SPX Technologies Stock Performance

NYSE:SPXC traded down $1.91 during mid-day trading on Thursday, reaching $150.25. 27,715 shares of the company's stock were exchanged, compared to its average volume of 277,720. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The business's fifty day simple moving average is $137.19 and its two-hundred day simple moving average is $147.12. The firm has a market capitalization of $7.02 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.16 by $0.22. The company had revenue of $482.60 million for the quarter, compared to analysts' expectations of $481.32 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

SPX Technologies 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.