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

Illinois Municipal Retirement Fund reduced its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,888 shares of the company's stock after selling 1,735 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of SPX Technologies worth $3,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NBC Securities Inc. bought a new position in SPX Technologies during the 1st quarter valued at $27,000. Skandinaviska Enskilda Banken AB publ lifted its stake 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 valued at $28,000 after buying an additional 185 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of 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 purchasing an additional 151 shares during the period. Covestor Ltd raised its stake in SPX Technologies by 313.8% during the 4th quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after acquiring an additional 295 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after purchasing an additional 98 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the business's stock in a transaction on 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 directly owned 33,770 shares in the company, valued at approximately $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.32% of the company's stock.

SPX Technologies Trading Up 1.4%

Shares of SPXC stock traded up $2.45 during trading hours on Wednesday, reaching $171.40. 109,433 shares of the stock traded hands, compared to its average volume of 289,606. 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 market capitalization of $8.01 billion, a PE ratio of 39.95, a PEG ratio of 1.47 and a beta of 1.24. SPX Technologies, Inc. has a 1-year low of $115.00 and a 1-year high of $183.83. The business has a fifty day moving average price of $152.72 and a 200 day moving average price of $145.07.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. B. Riley started coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target on the stock. UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the stock 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $183.20.

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.