New York State Common Retirement Fund Purchases 12,053 Shares of SPX Technologies, Inc. (NYSE:SPXC)

New York State Common Retirement Fund raised its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,526 shares of the company's stock after buying an additional 12,053 shares during the period. New York State Common Retirement Fund owned 0.61% of SPX Technologies worth $36,899,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of SPX Technologies during the fourth quarter worth $93,038,000. Raymond James Financial Inc. acquired a new position in shares of SPX Technologies during the fourth quarter worth $32,337,000. First Trust Advisors LP lifted its holdings in shares of SPX Technologies by 54.5% during the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after purchasing an additional 195,153 shares during the period. Franklin Resources Inc. lifted its holdings in shares of SPX Technologies by 1,260.7% during the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company's stock worth $24,813,000 after purchasing an additional 157,981 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of SPX Technologies by 25,946.4% during the first quarter. GAMMA Investing LLC now owns 138,567 shares of the company's stock worth $17,845,000 after purchasing an additional 138,035 shares during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

Wall Street Analysts Forecast Growth

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

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 on Thursday, May 29th. The shares were sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the sale, the director owned 33,770 shares in the company, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.32% of the stock is owned by corporate insiders.

SPX Technologies Stock Down 1.4%

SPXC traded down $2.44 during midday trading on Friday, reaching $177.68. 114,514 shares of the company were exchanged, compared to its average volume of 272,821. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88. The company's fifty day moving average price is $160.79 and its 200 day moving average price is $147.24. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 41.45, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83.

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

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.