Teacher Retirement System of Texas Buys 4,766 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Teacher Retirement System of Texas increased its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 71.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,453 shares of the company's stock after buying an additional 4,766 shares during the period. Teacher Retirement System of Texas' holdings in SPX Technologies were worth $1,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SPXC. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of SPX Technologies by 2,055.6% during 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. NBC Securities Inc. purchased a new stake in SPX Technologies in the first quarter valued at $27,000. Covestor Ltd boosted its holdings in SPX Technologies by 313.8% in the fourth quarter. Covestor Ltd now owns 389 shares of the company's stock valued at $57,000 after purchasing an additional 295 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of SPX Technologies by 17.6% in the fourth quarter. Huntington National Bank now owns 587 shares of the company's stock worth $85,000 after acquiring an additional 88 shares during the period. Institutional investors own 92.82% of the company's stock.

Insiders Place Their Bets

In other news, Director Rick D. Puckett sold 6,823 shares of the 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 completion of the sale, the director owned 33,770 shares in the company, 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 link. 3.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on SPXC shares. B. Riley initiated coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective for the company. Oppenheimer upped their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, UBS Group raised shares of SPX Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $160.00 to $182.00 in a research note on Monday, June 2nd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $189.60.

SPX Technologies Price Performance

SPX Technologies stock opened at $172.02 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $158.68 and a 200-day simple moving average of $146.43. The stock has a market cap of $8.04 billion, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.24. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.38 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 firm had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current fiscal 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.

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