New York State Common Retirement Fund Increases Position in SPX Technologies, Inc. (NYSE:SPXC)

New York State Common Retirement Fund increased its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 286,526 shares of the company's stock after buying an additional 12,053 shares during the quarter. New York State Common Retirement Fund owned about 0.61% of SPX Technologies worth $36,899,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of SPX Technologies in the fourth quarter worth $93,038,000. Raymond James Financial Inc. acquired a new position in shares of SPX Technologies in the fourth quarter worth $32,337,000. First Trust Advisors LP grew its stake in shares of SPX Technologies by 54.5% in the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after acquiring an additional 195,153 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of SPX Technologies by 1,260.7% in the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock worth $24,813,000 after acquiring an additional 157,981 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of SPX Technologies by 25,946.4% in the first quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock worth $17,845,000 after acquiring an additional 138,035 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

Insider Transactions at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the company'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 directly owned 33,770 shares of the company's stock, valued at approximately $5,167,147.70. This represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.32% of the stock is owned by corporate insiders.

SPX Technologies Stock Up 2.9%

Shares of SPXC stock traded up $5.13 on Thursday, reaching $180.26. 321,019 shares of the stock were exchanged, compared to its average volume of 287,438. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. SPX Technologies, Inc. has a twelve month low of $115.00 and a twelve month high of $183.83. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 1.50 and a beta of 1.24. The business's 50 day moving average price is $160.17 and its 200 day moving average price is $146.99.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data 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. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. The company had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same quarter in the prior year, the firm posted $1.25 earnings per share. SPX Technologies's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on SPXC shares. Oppenheimer boosted their price target on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. B. Riley initiated coverage on shares of SPX Technologies in a research note on Thursday, May 15th. They set a "buy" rating and a $195.00 target price for the company. Finally, UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $160.00 to $182.00 in a research note on Monday, June 2nd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, SPX Technologies presently has a consensus rating of "Buy" and an average price target of $189.60.

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.