GW&K Investment Management LLC Sells 68,010 Shares of SPX Technologies, Inc. (NYSE:SPXC)

GW&K Investment Management LLC trimmed its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 442,770 shares of the company’s stock after selling 68,010 shares during the period. GW&K Investment Management LLC’s holdings in SPX Technologies were worth $64,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPXC. Conestoga Capital Advisors LLC increased its stake in shares of SPX Technologies by 74.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock worth $100,023,000 after purchasing an additional 267,965 shares during the last quarter. Farther Finance Advisors LLC increased its position in SPX Technologies by 247.9% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock worth $80,000 after buying an additional 357 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in SPX Technologies by 30.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 97,982 shares of the company’s stock valued at $15,624,000 after buying an additional 22,645 shares during the period. Emerald Advisers LLC raised its stake in SPX Technologies by 40.6% in the third quarter. Emerald Advisers LLC now owns 132,051 shares of the company’s stock valued at $21,057,000 after buying an additional 38,161 shares during the period. Finally, Assetmark Inc. lifted its position in shares of SPX Technologies by 4.7% in the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after buying an additional 78 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $144.00 on Friday. 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 firm has a market cap of $6.68 billion, a price-to-earnings ratio of 38.71, a P/E/G ratio of 1.33 and a beta of 1.29. The stock’s fifty day moving average price is $147.11 and its two-hundred day moving average price is $155.43. SPX Technologies, Inc. has a one year low of $112.53 and a one year high of $183.83.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group decreased their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday. 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 research note on Wednesday. Finally, Wolfe Research started coverage on shares of SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.