SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its holdings in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,444 shares of the company's stock after selling 1,864 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of SPX Technologies worth $3,534,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in SPX Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock valued at $732,153,000 after acquiring an additional 89,770 shares during the period. Invesco Ltd. lifted its holdings in SPX Technologies by 3.4% in the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after buying an additional 37,468 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in SPX Technologies by 1.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock worth $102,920,000 after buying an additional 11,400 shares during the period. Janus Henderson Group PLC lifted its holdings in SPX Technologies by 3.9% in the 4th quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after buying an additional 26,995 shares during the period. Finally, FMR LLC lifted its holdings in SPX Technologies by 8.5% in the 4th quarter. FMR LLC now owns 718,298 shares of the company's stock worth $104,527,000 after buying an additional 56,175 shares during the period. 92.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPXC shares. UBS Group raised SPX Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $160.00 to $182.00 in a research report on Monday, June 2nd. Oppenheimer lifted their target price on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, B. Riley initiated coverage on SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price target on the stock. 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.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $189.60.

SPX Technologies Trading Up 2.8%

Shares of NYSE SPXC traded up $4.87 during midday trading on Friday, hitting $180.28. The company's stock had a trading volume of 114,971 shares, compared to its average volume of 283,952. The business's 50 day moving average is $162.99 and its two-hundred day moving average is $148.22. The firm has a market cap of $8.42 billion, a P/E ratio of 42.02, a price-to-earnings-growth ratio of 1.54 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. 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 (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 business had revenue of $482.60 million for the quarter, compared to analysts' expectations of $481.32 million. SPX Technologies had a return on equity of 19.67% and a net margin of 10.13%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities research analysts expect that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Insider Activity at SPX Technologies

In related news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $153.01, for a total value of $1,043,987.23. Following the completion of the transaction, the director directly 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 legal filing with the SEC, which is accessible through this link. 3.32% of the stock is owned by company insiders.

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.