SPX Technologies, Inc. (NYSE:SPXC) Stock Holdings Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 10.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 387,447 shares of the company’s stock after selling 43,090 shares during the quarter. New York State Common Retirement Fund owned approximately 0.85% of SPX Technologies worth $39,136,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SPXC. MCF Advisors LLC bought a new position in shares of SPX Technologies in the 4th quarter worth about $173,000. Segment Wealth Management LLC bought a new stake in SPX Technologies in the 4th quarter valued at about $202,000. Cerity Partners LLC bought a new stake in SPX Technologies in the 4th quarter valued at about $204,000. Cornerstone Investment Partners LLC bought a new stake in SPX Technologies in the 4th quarter valued at about $213,000. Finally, Raymond James Trust N.A. acquired a new position in SPX Technologies during the 4th quarter valued at about $233,000. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

Shares of SPXC opened at $119.88 on Thursday. SPX Technologies, Inc. has a one year low of $61.09 and a one year high of $124.81. The company has a 50-day moving average of $117.15 and a two-hundred day moving average of $101.07. The stock has a market cap 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 current ratio of 1.77 and a quick ratio of 1.08.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, February 22nd. The company reported $1.25 EPS 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 company had revenue of $469.40 million during the quarter, compared to analysts’ expectations of $481.98 million. During the same period last year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts expect that SPX Technologies, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPXC has been the topic of several recent research reports. StockNews.com cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. UBS Group lifted their price objective on shares of SPX Technologies from $90.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $134.00 price objective (up previously from $124.00) on shares of SPX Technologies in a research note on Thursday, March 28th.

Insider Buying and Selling

In related news, insider John William Swann III sold 32,325 shares of the firm’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 sale, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of the firm’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 transaction of $3,123,503.04. Following the completion of the sale, the chief executive officer now directly owns 597,936 shares in the company, valued at $69,049,649.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John William Swann III sold 32,325 shares of SPX Technologies 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 sale, 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. Over the last three months, insiders sold 94,373 shares of company stock worth $10,962,146. 3.53% of the stock is owned by company 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.