Illinois Municipal Retirement Fund Sells 1,735 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Illinois Municipal Retirement Fund decreased its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,888 shares of the company's stock after selling 1,735 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of SPX Technologies worth $3,849,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Comerica Bank increased its holdings in shares of SPX Technologies by 25.4% in the 4th quarter. Comerica Bank now owns 86,267 shares of the company's stock worth $12,554,000 after buying an additional 17,472 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of SPX Technologies by 0.9% in the 4th quarter. Arizona State Retirement System now owns 13,436 shares of the company's stock valued at $1,955,000 after purchasing an additional 123 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of SPX Technologies by 61.4% in the 4th quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock valued at $1,620,000 after purchasing an additional 4,229 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of SPX Technologies by 11.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,667 shares of the company's stock valued at $243,000 after purchasing an additional 169 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of SPX Technologies in the 4th quarter valued at $32,337,000. Institutional investors own 92.82% of the company's stock.

Insider Buying and Selling at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $153.01, for a total value of $1,043,987.23. Following the completion of the sale, the director now directly owns 33,770 shares of the company's stock, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.32% of the stock is currently owned by corporate insiders.

SPX Technologies Trading Up 0.6%

Shares of SPXC opened at $167.48 on Friday. The stock has a market capitalization of $7.82 billion, a P/E ratio of 39.04, a PEG ratio of 1.47 and a beta of 1.23. The company has a quick ratio of 1.24, a current ratio of 1.88 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $151.00 and a two-hundred day simple moving average of $144.90. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.22. The business had revenue of $482.60 million during the quarter, compared to analysts' expectations of $481.32 million. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 EPS. On average, research analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. B. Riley assumed coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective for the company. UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $183.20.

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.

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