Dana Investment Advisors Inc. Cuts Stake in SPX Technologies, Inc. (NYSE:SPXC)

Dana Investment Advisors Inc. decreased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,457 shares of the company’s stock after selling 135 shares during the period. Dana Investment Advisors Inc.’s holdings in SPX Technologies were worth $940,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in SPX Technologies by 1.3% in the third quarter. State Street Corp now owns 1,729,989 shares of the company’s stock worth $275,864,000 after acquiring an additional 22,177 shares during the period. Geode Capital Management LLC increased its holdings in shares of SPX Technologies by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after acquiring an additional 8,916 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock valued at $114,640,000 after acquiring an additional 160,535 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of SPX Technologies by 45.3% during the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after acquiring an additional 217,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SPX Technologies by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 625,361 shares of the company’s stock valued at $91,003,000 after acquiring an additional 1,956 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of SPXC stock opened at $137.06 on Friday. The stock has a fifty day simple moving average of $146.34 and a two-hundred day simple moving average of $154.97. 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 capitalization of $6.36 billion, a price-to-earnings ratio of 36.84, a P/E/G ratio of 1.33 and a beta of 1.26. SPX Technologies, Inc. has a twelve month low of $113.18 and a twelve month high of $183.83.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. 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. UBS Group reduced their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. Finally, Sidoti raised 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 issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.75.

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.