Louisiana State Employees Retirement System Takes Position in SPX Technologies, Inc. (NYSE:SPXC)

Louisiana State Employees Retirement System bought a new position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 22,800 shares of the company's stock, valued at approximately $2,303,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates lifted its holdings in SPX Technologies by 153.2% during the fourth quarter. Raymond James & Associates now owns 24,895 shares of the company's stock worth $2,515,000 after buying an additional 15,063 shares during the period. FMR LLC boosted its position in SPX Technologies by 23.0% during the third quarter. FMR LLC now owns 1,338,942 shares of the company's stock valued at $108,990,000 after purchasing an additional 250,494 shares in the last quarter. Sei Investments Co. grew its stake in SPX Technologies by 16.7% in the third quarter. Sei Investments Co. now owns 162,586 shares of the company's stock valued at $13,235,000 after purchasing an additional 23,287 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in SPX Technologies by 11.7% in the third quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company's stock worth $128,583,000 after purchasing an additional 165,544 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of SPX Technologies by 1.0% during the third quarter. Vanguard Group Inc. now owns 5,014,424 shares of the company's stock valued at $408,174,000 after buying an additional 50,178 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on SPXC shares. StockNews.com lowered shares of SPX Technologies from a "buy" rating to a "hold" rating in a research note on Friday, March 15th. Oppenheimer reaffirmed an "outperform" rating and set a $134.00 price target (up from $124.00) on shares of SPX Technologies in a research report on Thursday, March 28th. Finally, UBS Group increased their price objective on SPX Technologies from $90.00 to $126.00 and gave the company a "neutral" rating in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $130.00.

Insiders Place Their Bets

In related news, CEO Eugene Joseph Lowe III sold 35,000 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the sale, the chief executive officer now owns 667,045 shares in the company, valued at $76,936,970.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the company's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the sale, the insider now directly owns 82,884 shares of the company's stock, valued at $9,747,987.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the sale, the chief executive officer now directly owns 667,045 shares in the company, valued at $76,936,970.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,373 shares of company stock valued at $10,962,146. 3.53% of the stock is owned by company insiders.

SPX Technologies Stock Performance

Shares of SPX Technologies stock traded down $1.25 during midday trading on Wednesday, hitting $117.50. The company had a trading volume of 158,927 shares, compared to its average volume of 233,052. The company has a fifty day simple moving average of $116.07 and a 200 day simple moving average of $99.77. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 61.20, a PEG ratio of 1.32 and a beta of 1.25. The company has a quick ratio of 1.08, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. SPX Technologies, Inc. has a 12-month low of $61.09 and a 12-month high of $124.81.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.25. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The business had revenue of $469.40 million for the quarter, compared to analyst estimates of $481.98 million. During the same quarter in the prior year, the business posted $1.17 EPS. SPX Technologies's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts predict that SPX Technologies, Inc. will post 5.03 earnings per share for the current fiscal year.

SPX Technologies Profile

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.