New York State Common Retirement Fund Has $39.14 Million Stake in SPX Technologies, Inc. (NYSE:SPXC)

New York State Common Retirement Fund trimmed its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 387,447 shares of the company’s stock after selling 43,090 shares during the period. New York State Common Retirement Fund’s holdings in SPX Technologies were worth $39,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC increased its stake in SPX Technologies by 240.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 59,531 shares of the company’s stock valued at $6,013,000 after buying an additional 42,039 shares during the last quarter. Raymond James & Associates increased its stake in SPX Technologies by 153.2% in the 4th quarter. Raymond James & Associates now owns 24,895 shares of the company’s stock valued at $2,515,000 after buying an additional 15,063 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of SPX Technologies in the 4th quarter valued at about $2,303,000. FMR LLC grew its position in shares of SPX Technologies by 23.0% in the 3rd quarter. FMR LLC now owns 1,338,942 shares of the company’s stock valued at $108,990,000 after acquiring an additional 250,494 shares during the period. Finally, Sei Investments Co. grew its position in shares of SPX Technologies by 16.7% in the 3rd quarter. Sei Investments Co. now owns 162,586 shares of the company’s stock valued at $13,235,000 after acquiring an additional 23,287 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on SPXC shares. UBS Group lifted their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Oppenheimer reaffirmed an “outperform” rating and set a $134.00 target price (up previously from $124.00) on shares of SPX Technologies in a report on Thursday, March 28th. Finally, StockNews.com downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday, March 15th.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $119.88 on Thursday. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 62.44, a PEG ratio of 1.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.77. The company has a 50-day simple moving average of $117.15 and a 200 day simple moving average of $101.07. SPX Technologies, Inc. has a 52 week low of $61.09 and a 52 week high of $124.81.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, hitting the consensus estimate of $1.25. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The business had revenue of $469.40 million during the quarter, compared to analysts’ expectations of $481.98 million. During the same quarter in the previous year, the company earned $1.17 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that SPX Technologies, Inc. will post 5.03 earnings per share for the current year.

Insiders Place Their Bets

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $115.48, for a total value of $3,123,503.04. Following the completion of the sale, the chief executive officer now owns 597,936 shares in the company, valued at approximately $69,049,649.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $115.48, for a total value of $3,123,503.04. Following the completion of the transaction, the chief executive officer now directly owns 597,936 shares in the company, valued at approximately $69,049,649.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John William Swann III sold 32,325 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The disclosure for this sale can be found here. Insiders sold 94,373 shares of company stock worth $10,962,146 in the last quarter. 3.53% of the stock is currently owned by corporate insiders.

SPX Technologies 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.