Synovus Financial Corp Has $758,000 Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Synovus Financial Corp trimmed its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 45.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,209 shares of the company's stock after selling 4,280 shares during the quarter. Synovus Financial Corp's holdings in SPX Technologies were worth $758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC increased its position in SPX Technologies by 299.0% in the 3rd quarter. Barclays PLC now owns 84,567 shares of the company's stock valued at $13,485,000 after acquiring an additional 63,373 shares during the period. Nordea Investment Management AB increased its holdings in shares of SPX Technologies by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 365,583 shares of the company's stock valued at $53,203,000 after purchasing an additional 17,324 shares during the period. M&T Bank Corp increased its holdings in shares of SPX Technologies by 0.4% during the third quarter. M&T Bank Corp now owns 37,541 shares of the company's stock valued at $5,986,000 after purchasing an additional 160 shares during the period. KBC Group NV raised its stake in shares of SPX Technologies by 2,109.8% during the fourth quarter. KBC Group NV now owns 28,617 shares of the company's stock valued at $4,164,000 after purchasing an additional 27,322 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in SPX Technologies by 666.7% in the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company's stock worth $94,169,000 after purchasing an additional 513,526 shares during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Price Performance

SPXC stock traded up $2.92 on Tuesday, hitting $126.89. 268,586 shares of the company's stock traded hands, compared to its average volume of 279,287. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 1.33 and a beta of 1.22. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83. The stock has a fifty day moving average of $135.01 and a 200-day moving average of $149.27.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPXC. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. UBS Group dropped their target price on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.75.

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.