Alliancebernstein L.P. Sells 129,658 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Alliancebernstein L.P. trimmed its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 14.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 741,143 shares of the company’s stock after selling 129,658 shares during the quarter. Alliancebernstein L.P.’s holdings in SPX Technologies were worth $107,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of SPXC. Barclays PLC increased its stake in shares of SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after purchasing an additional 63,373 shares in the last quarter. Geode Capital Management LLC increased its position in SPX Technologies by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after buying an additional 8,916 shares in the last quarter. Nordea Investment Management AB raised its stake in 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 buying an additional 17,324 shares during the last quarter. M&T Bank Corp boosted its holdings in SPX Technologies by 0.4% in the third quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock worth $5,986,000 after acquiring an additional 160 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of SPX Technologies by 2,109.8% in the fourth quarter. KBC Group NV now owns 28,617 shares of the company’s stock worth $4,164,000 after acquiring an additional 27,322 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPXC has been the topic 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 target on the stock in a research note on Wednesday, February 26th. UBS Group dropped their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Price Performance

SPXC opened at $135.99 on Thursday. The company’s 50-day simple moving average is $142.09 and its two-hundred day simple moving average is $152.73. 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 stock has a market capitalization of $6.31 billion, a P/E ratio of 36.56, a P/E/G ratio of 1.33 and a beta of 1.26. SPX Technologies, Inc. has a 52-week low of $116.05 and a 52-week high of $183.83.

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.