Bessemer Group Inc. Sells 1,772 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Bessemer Group Inc. decreased its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC) by 81.2% during the 4th quarter, Holdings Channel reports. The firm owned 411 shares of the company’s stock after selling 1,772 shares during the quarter. Bessemer Group Inc.’s holdings in SPX Technologies were worth $60,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after purchasing an additional 90 shares in the last quarter. Empowered Funds LLC acquired a new position in SPX Technologies during the 4th quarter worth approximately $27,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after acquiring an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of SPX Technologies during the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, UBS Group lowered their target price 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. 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 an average rating of “Moderate Buy” and an average target price of $174.75.

SPX Technologies Price Performance

SPXC opened at $128.21 on Friday. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 1.33 and a beta of 1.22. The firm’s fifty day moving average price is $136.53 and its two-hundred day moving average price is $150.03.

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.