Commerce Bank Sells 783 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Commerce Bank reduced its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 12.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,732 shares of the company’s stock after selling 783 shares during the quarter. Commerce Bank’s holdings in SPX Technologies were worth $834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of SPX Technologies in the 4th quarter worth approximately $93,038,000. JPMorgan Chase & Co. increased its position in SPX Technologies by 666.7% during the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after acquiring an additional 513,526 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of SPX Technologies in the fourth quarter valued at $32,337,000. Conestoga Capital Advisors LLC lifted its holdings in shares of SPX Technologies by 25.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock worth $114,640,000 after acquiring an additional 160,535 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of SPX Technologies by 1,260.7% during the 4th quarter. Franklin Resources Inc. now owns 170,512 shares of the company’s stock worth $24,813,000 after purchasing an additional 157,981 shares during the period. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Trading Up 2.4 %

SPXC opened at $126.89 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $135.01 and its two-hundred day moving average is $149.27. The company has a market capitalization of $5.94 billion, a P/E ratio of 34.11, a PEG ratio of 1.33 and a beta of 1.22. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $183.83.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group decreased their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. 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. Finally, Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company 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.