New York State Teachers Retirement System reduced its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 7.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,719 shares of the company's stock after selling 4,500 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of SPX Technologies worth $7,304,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of SPXC. NBC Securities Inc. bought a new stake in SPX Technologies during the first quarter valued at approximately $27,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after acquiring an additional 185 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of SPX Technologies by 377.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Covestor Ltd lifted its holdings in shares of SPX Technologies by 313.8% in the 4th quarter. Covestor Ltd now owns 389 shares of the company's stock worth $57,000 after acquiring an additional 295 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of SPX Technologies by 18.5% in the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after acquiring an additional 98 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.
SPX Technologies Trading Down 2.0%
SPX Technologies stock traded down $3.50 during mid-day trading on Monday, reaching $169.53. 262,403 shares of the company traded hands, compared to its average volume of 275,014. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.88 and a quick ratio of 1.24. The firm's 50 day moving average price is $155.90 and its 200 day moving average price is $145.71. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 39.52, a P/E/G ratio of 1.52 and a beta of 1.24. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week 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, beating analysts' consensus estimates of $1.16 by $0.22. The business 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 quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. On average, analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.
Insider Transactions at SPX Technologies
In other SPX Technologies 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 transaction of $1,043,987.23. Following the transaction, the director owned 33,770 shares in the company, valued at approximately $5,167,147.70. This represents a 16.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.32% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. B. Riley assumed coverage on shares of SPX Technologies in a report on Thursday, May 15th. They set a "buy" rating and a $195.00 price target for the company. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $160.00 to $182.00 in a report 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $183.20.
Get Our Latest Stock Analysis on SPX Technologies
SPX Technologies Profile
(
Free Report)
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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