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

Alliancebernstein L.P. decreased its stake in SPX Technologies, Inc. (NYSE:SPXC) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 741,143 shares of the company’s stock after selling 129,658 shares during the period. Alliancebernstein L.P. owned 1.60% of SPX Technologies worth $107,851,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPXC. Cerity Partners LLC raised its position in SPX Technologies by 43.5% during the third quarter. Cerity Partners LLC now owns 3,434 shares of the company’s stock valued at $548,000 after purchasing an additional 1,041 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in SPX Technologies by 35.0% in the third quarter. Glenmede Trust Co. NA now owns 4,630 shares of the company’s stock worth $738,000 after purchasing an additional 1,200 shares during the last quarter. Captrust Financial Advisors boosted its position in SPX Technologies by 3.8% during the third quarter. Captrust Financial Advisors now owns 8,030 shares of the company’s stock valued at $1,280,000 after buying an additional 292 shares during the period. Verition Fund Management LLC purchased a new position in shares of SPX Technologies in the third quarter worth about $481,000. Finally, Centiva Capital LP bought a new position in SPX Technologies during the 3rd quarter worth approximately $361,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SPXC shares. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. UBS Group cut their price target on shares of 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 shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, SPX Technologies currently has an average rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Price Performance

SPXC stock opened at $135.99 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies, Inc. has a 1 year low of $116.05 and a 1 year high of $183.83. The firm has a 50-day moving average of $142.09 and a 200 day moving average of $152.73. The company has a market cap of $6.31 billion, a P/E ratio of 36.56, a PEG ratio of 1.33 and a beta of 1.26.

SPX Technologies Company 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.